OK Olympic Fever is an epidemic and spreading fast.
These athletes are utterly amazing in the development of their skills, their dedication and the records they keep breaking, time after time. Despite the fact that the US is trailing behind China in the golds, our athletes seem to be getting the most attention, between Michael Phelps and his many golds and Nastia Lukins capturing our hearts.
Beijing Medals Results
It seems that everytime I get a break to sit down and watch, they’re playing volleyball. Each time I watch, men or women,the games follow the same pattern – Americans ahead by 5-7 points; their opponents eat up the lead; often through the American team’s errors; there’s a nerve-wracking set of volleys right before the final points, often going into overtime; it looks bleak for the American team; then they pull a spectacular win right a the last moment. You want drama – watch volleyball.
Well, that was fun – and sooooooooooo distracting.
One more distraction, this is the 157th anniversary of the sewing machine, when Isaac Singer formed the I.M. Singer & Company, which quickly dominated the world market in home sewing machines. I’ll bet you have childhood memories of sewing machines! That reminds me of when I was very little and my grandmother had one of those solid, sturdy black cast-iron Singers, with the treadle to run the machine. It was such a work of art, even a 4-year-old could appreciate that shiny machine. I loved watching her run it.
When we came to California, my mother got a little side table – where the sewing machine hid until she needed it. You’d lift open the table top and create a working platform – and tilted the machine right out. She helped support us for years, with her skills as a seamstress making dresses for women and doing alterations. In fact, she still has that machine – for over 30 years – and it still works flawlessly.
History of Singer Sewing Machine Company.
Ah…more distraction, visiting the Singers was a nice trip down memory lane.
Let’s get back to more taxing matters. Like the Housing Bill and what happens to your vacation home or former home that is now a rental. Read the experts’ answers in today’s TaxWatch column at MarketWatch.com.
Unemployment claims dropped slightly in the last week – but the unemployment rate steady at 5.7%
You don’t need to one of those statistics – unless you really feel like taking a breather for a few weeks, or up to 6 months and have the government subsidze your time off. If you’re really exhausted and are at the end of your physical or emotional rope, consider seeing a doctor first and getting approved for a medical ‘breakdown’. You’ll be able to collect state disabilty instead of unemployment. Disability has two advantages – it’s usually a higher payment AND it’s tax-free. Unemployment income is taxable.
However, for those who are eager to advance your career, today’s Job Advice of the Week tells you how to create a job business card. What a nifty idea.
Back when I was in high school, the City of Los Angeles had some of the top schools in the state. The State of California had some of the top educational scores in the country. And the US was THE place to come for a great education. That has changed dramatically. The US is way down on the list, even behind countries like Slovenia, Latvai and Cypress in math and science scores. Why?
Perhaps today’s Money Funny can explain.
IRS News has IRS accepting feedback about issues that affect your business or your industry. You’ve been bitching and moaning about how complex tax issues are in your field and about the extra burdens you seem to have. Today’s IRS News tells you how to suggest productive improvements in the system.
We also have a first-round decision in the long-awaited California LLC tax battle. It’s not time to file those claims for refunds yet. Hang on. Read today’s IRS News.
TaxQuips this week generated some interesting feedback. We had artists in Japan, unused corporations that never filed tax returns, a Texan getting a windfall due to the oil and gas under his home, and a widow selling her home.
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
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- Ask TaxMama :: Where taxes are fun and answers are free
www.TaxQuips.com :: The number ONE free tax podcast online
- Money Funnies :: It's all in the numbers
- IRS News :: Speak up! And landmark case for California LLCs
- Job Advice of the Week :: Create a job hunting business card
The 100% Home-Based Business Tax Solution :: The evolving e-book and Tax MiniMiser
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