Ask TaxMama Issue 470 – Compelling Distractions

Happy Anniversary of the Sewing Machine, first patented by Isaac Singer

Dear Family,

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.
http://www.taxquips.com/index.php?cat=JobAdviceoftheWeek

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.
http://taxquips.com/index.php?cat=MoneyFunnies

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.
http://taxquips.com/index.php?cat=IRSNews

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.
http://taxquips.com/index.php?cat=TaxQuips

As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!

Please use the Comments link online.
http://taxquips.com/index.php?id=945

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.
http://www.ikat.org

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.

www.TaxMama.com

www.TaxQuips.com
www.IRSExam.com
www.TaxNerd.net
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TAX CALENDAR 2008
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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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SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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Keep your Resolutions:
Here’s a well-thought-out e-book to help you start the
year off properly. It contains a place for you to
list your promises to yourself – and lots of tools to

help you achieve your goals.

Download the book here (just use your e-mail address in this e-mail, so you can avoid subscribing to
my newsletters twice.)

Feel free to share this link with your friends, your clients and your mailing list.

http://www.simpleology.com/p/blogging/taxmama/ATM440

Explore Simpleology 101 – It includes set of step-by-step daily missions for you to follow to get more focused and become more successful this year.

You can check them off as you go.

Audio and Video Training
Is 2008 the year you learn to put use audio and video
on your websites or online? Here are some excellent
no-cost training opportunities. All you need is time.

Join David at AudioAcrobat.com

Join SuccessNet.org for free and learn the 10 Essential Success Keys You Need to Know for You
And Your Business to Grow

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GIFT IDEAS
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ThinkGeek has some wonderful, unusual stuff, including something very like a Dick Tracy watch – a touchscreen cell phone PDA watch. They also have the USB Memory watch that holds 2GB of data.

Open your own Zazzle account and create personalized

gifts to your family and friends.
You don’t need to use my designs – use your own photos and artwork.
http://www.zazzle.com/taxmama*
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SPECIAL DEALS
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Need a Corp, LLC, Registered Agent

Incorp Services Inc. in Nevada – DISCOUNT

20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – or
http://go.asktaxmama.com/incorp

(no code needed)

Summer Family Identity – 3 Choices:

Zazzle – Cafe Press – Queensboro

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!)

But do put everyone’s picture – so even if you don’t know the local language, you can point to a family member and ask if anyone has seen him or her. Or use a graphic or piece of art you all like. You’ll find three options right here in our SPECIAL DEALS section.

Use your art or others – and customize it

Zazzle your Imagination. Are you a TaxNerd?
Tell everyone – proudly!
http://www.zazzle.com/taxmama*

Create your own customized Zazzle Apparel, bags or more.

Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

Stuff for summer, travel and fun

Cafe Press is the home of TaxMama’s shops
http://www.cafepress.com/taxmama

But you can upload your own art and graphics and unify your family – even your pets.

http://www.cafepress.com/

Get extra discounts for yourself and friends after you order.

WOW DEAL! Embroidery

Wouldn’t you love to get your logo or family crest, or picture or whatever, EMBROIDERED on hats and T-Shirts?

Well, it costs a heck of a lot less than you think.
And there’s always a sale!

At the Queensboro Shirt Company

(They have a lot more than shirts – and all sizes)
They do a gorgeous job.

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