Ask TaxMama 580 – The Votes are In

Dear Family,

Join me soon. I will be visiting Gina and Kat at the Moms Making a Million Radio Show Friday 8:00 AM PT . If you missed the show, you can listen later. This is a delightful site dedicated to helping a million moms make a million dollars. Don’t you want to be one of them?

Last night, I taught the last class of the year.I am going to miss those students. They are smart and fun – and each person is more interesting than the last.

All that’s left is write a half dozen or so articles and blogs next week, clean up the office, get ready for tax seaon, retrieve a hundred or two Homebuyers Credit claims – then we’re off for the holidays. You won’t get Ask TaxMama next week…or you’ll get it early. But you might still get a TaxQuip or two. I’ll still try to answer your questions next week – but will not have a computer with me during the week from Christmas to New Years. Sometimes, my friend, we all need to get away from our electronic tethers.

Important news! We do have a new tax law. The House of Representatives stayed up late last night and passed the extender bill. President Obama will be delighted to sign this. Our tax lives will be relatively predictable for another year or two. See today’s IRS News for a summary of all the things that will affect you.

Definitely Keep an eye on IRS News and especially on Twitter – . I’ll post all news to Twitter as soon as I get it.

Enjoy TaxQuips on YouTube – – Daily TaxQuips from TaxMama®
You can also access the whole TaxMama site, including the TaxQuips forum right from your phone – any phone. I will be updating the Tax Calendar next week, so you can reach that from your phone too. But I don’t think we will be updating the iphone calendars. It was a very expensive experiment. The people who used the paid application with all the reminders loved it. Not enough people tried it, though.

Small Business Taxes Made Easy

People who’ve seen the book are very excited. Not only is it designed to be a useful tool to help you reduce your taxes, it’s also designed for you to use on a day-to-day basis. I’ve set up a special, secret site for readers where you can download the To Do lists and enter into a discussion about your business issues. The site is named in the book – and you’ll need it at hand to log into the free site.

You can pick up Small Business Taxes Made Easy inexpensively at

What else is going in? Read on….Inicdentally, you’re really missing out, if you are not exploring all the really interesting and useful articles on the Equifax blog, Suze Orman’s, the AccountingWeb blog, the WSJ blog…and all the others.

Upcoming Live Classes

This year’s schedule is over. We have 5 classes scheduled for May, June and July 2011.

Meanwhile, you can replay all the 2010 classes either as resources to help you solve a problem – or get CPE credit for the self-study course.

The IRS Practice Series (all times in Pacific Time)

Team taught with Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA

Preview the series on YouTube

There are lots of other great classes here, too. Including Vern Hoven’s year-end update, course on Excel, and specific tax issues you need to learn on the spot – just sign up and download replays of live sessions.

Upcoming on CPE LINK – with CPE for CPAs, EAs, and more

Self-Study Courses

Title Credit
Doing Tax Research Online for Free 3
Homebuyers Credits for Tax Professionals 3
IRS Practice Series: 10 Steps to Release IRS Levies on Paychecks or Bank Accounts 3

Homebuyers Credit Course

The specific laws related to your clients.  How to get it rigth the first time. What to watch out for. And how to overcome IRS Rejections.

IRS Practice Series: Overview of Collection Issues – Price = ZERO:

This on-demand webcast provides a broad overview of the collections process. From preparing the Power of Attorney – IRS Form 4868, to freezing the collection activity, to Offers-in-Compromise and Appeals, the course will explore the numerous collection issues a practitioner may encounter and lay the ground work for the IRS Practice Series. Topics will be covered in more detail in the dozen courses of The IRS Practice Series – leading to a Tax Mediary (CTM) Certificate upon completion of the series.

EA Class News

People are passing their exams all over the place. It’s so exciting getting the notes that another person has passed Part 2 or Part 1 and finished all three exams. We’re getting down to the wire for the year. But…there are still more than two months left to finish up this year’s exam.

This time of year, there really isn’t time to start studying for the EA exam and finish it all by the end of the year. Perhaps by the end of February, but only for people who are not preparing tax returns until March.

Register for the full Self-Study class now. Select the one or two parts of the exam you DO have time to study this year. Get the updated material for the other parts next year at no additional charge – and no shipping (within the US).

Remember, you get a 10% discount on the EA Class if you register for TaxMama’s Family first.

The discount code can be found in the Family Look-Ups resource.

Other TaxMama News:

NEW! The WSJ Tax Blog has just launched –

This is being written by the Dow Jones team from the WSJ, MarketWatch and other Dow Jones publications. TaxMama has been invited to write weekly articles. This week – The Tax Deal and IRA Distribution Donations. Read about IRA conversions, estate planning, busines issues and more. There will be a wealth of charming and easy-to-read articles and tax gossip for you.

Suze Orman – Did you want to have a personal, private, one-on-one chat with Suze Orman? You might be the lucky person each month who will win that prize, and some other goodies.  Enter the contest!

Visit us at Suze Orman’s new site. You will find lots of practical money-saving tips – and ideas to help folks struggling with time, money, conflicts and more.

  • You can ask Suze questions in the forum – Suze is actually dropping by an answering your questions, just as I do here. Join us and speak to Suze.

You’ll find TaxMama’s columns there each week, along with a dozen delightful women. This week, TaxMama’s alerts you about lenders auditing their stated interest loans. TaxMama also helps you cut with your dental bills – even if you already have dental insurance from work. Jen tells you how to personalize your home and save money this year by making homemade decorations. Vicky helps you instill the spirit of giving in your children. Liz talks about the power of marshmallows and delayed gratification. Yummy! Sabrina addresses the difference between stocking up and hoarding. Doreen gives you the $1 stain solution.

At Equifax this week, TaxMama talks to you about withholding roulette – or how to save up eough money to pay for 2010 taxes. Ilyce Glink predicts the 2011 outlook for home sellers. Dan Solin tells how to maximize your IRA benefits with an inherited IRA. Linda Rey gives you a checklist for buying funeral insurance. The Equifax Credit team gives you crucial information – how to find and dispute credit report errors.

This week’s blog discusses the elusive PTINs that your tax preparer will need in order get your tax returns filed with IRS next year. You wouldn’t believe the struggle – even to get our own PTINs updated. Hide nor Hair of PTIN

Have you seend AccountingWeb’s new small business publication? Going Concern – focusing on keeping the profits flowing.

In IRS News, we get a summary of the new tax law, with a resource where you can read more about the details.

In Money Funnies today we get a history lesson about money.

In TaxQuips this week, We start the week with Christy who wants to deduct her mortgage insurance premiums – but doesn’t understand why her lender didn’t include them on the Form 1098 with the interest she paid. May she deduct the premiums anyway? Mortgage Insurance Deduction . We end the week withJared who is confused about the Sec 179 deduction limit for the van he wants to buy. Is it $25,000, $3,000, or what? Section 179 Commercial Vehicles This month’s Tax Roundtable went over and hour and a half. It was a lot of fun and very informative. TaxMama Family members and EA students who missed it may replay it and listen in. TaxMama’s Tax Roundtable – December Session

Next week’s MarketWatch column will provide you with last minute tips now that we have a new tax laws.

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

You are what makes all this fun – and interesting!

Please use the Comments link online.

TaxNerd gear makes a bold statement year-round.

It helps attract the opposite sex!

Shop at or*

Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama®

Your TaxMama®  is watching…out for you.





11/01/20103rd Quarter Payroll Taxes Due

11/01/2010Employer’s Deposit Federal Unemployment (FUTA)

11/01/20103rd Quarter Federal Excise Tax Return & Payment Voucher 11/15/2010Employers Make Monthly Payroll tax deposit on the 15th of each month 12/15/2010Employers Make Monthly Payroll tax deposit on the 15th of each month 12/15/2010Corporations – 4th Quarter Estimate Due

12/31/2010Last Day to Open KEOGH account for 2010 deposits


From TaxMama® to You!


Follow TaxMama®’s Tweets –

You are invited to put a TaxQuips Widget on your phone, social networking page, website, or… You’ll get the TaxQuips as soon as they published – long before they are distributed in by e-mail. It’s a nifty gadget. Just pick up the code and paste into your site or application.

Download TaxMama’s 2010 iphone Tax Calendar. My gift to you.

Never miss a tax deadline again!

The customizable tax calendar is here.

Add or Remove dates. Add your own reminders – get alerts.




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