Ask TaxMama Issue 474 – The Sky is the Limit

Happy Anniversary to Sky King

Dear Family,

Waaay back in my distant childhood memory, there was a TV series called Sky King. Do you remember it? It was western with a cowboy using an airplane. The show stands out in my mind because back in the 50s, long before Women’s Lib, one of the characters was a teen-aged girl – who could do anything. She didn’t simper and wait to be saved. She took charge, solved problems and even flew the plane. Even today, you’ll find the episodes hold up well.

Back to taxes. Finally, the California legislature passed a budget bill. Governor Schwarzenneger will not be vetoing it. You’ll find the details of the tax provisions in today’s IRS News.

The terrible thing about this excessively long budget delay is the damage to businesses and non-profit organizations whose job it is to help people with rents, food, child care, medical care and more. Since California withheld funds (no budget) for so long – some of them went beyond their borrowing limits and may have had to close their doors. Remember, just because a budget has been passed doesn’t mean checks will be issued today. It may take weeks to get funds distributed. The Legislature warns that this will happen again next year. Why? Why can’t they start the process early enough to meet the deadline? And why can’t they stop politicizing the budget so they can come to an agreement about the provisions without running more than two months late?

Wouldn’t it be terrific if, next year if they run late again, they should have to live with the poorest people in their communities for two months, living ONLY on the income available to those people during those same two months. That might just make this less theoretical for our lawmakers. There have been judges who’ve sentenced slumlords to do that. Just a thought…

(Uh oh, are our squirrels getting way too fat? Something really heavy is running around on my roof. They think it’s their superhighway to the street and other neighbors. Sheesh, they must be getting way too many nuts and oranges and apricots in the neighborhood!)

Since this is Shameless Promotion Month, let me tell you more about my latest activities. Aside from the two sessions I’m teaching for NATP-CA at Knotts Berry Farm next week, (join us!)…

I am recording a one-hour discussion about tax issues for someone contemplating going into business (today), and two video courses for The Learning Annex (this month). You’re going to like these! For more details… and to see what else TaxMama® has going on.

Our Job Advice of the Week suggests that you grab the decision maker’s attention.

In today’s Money Funny you’ll learn how a discerning mother ensures her daughter’s future.

Today’s IRS News teaches you how to fix the IRS (yes you can!). We also bring you a summary of the tax changes in the new California budget, courtesy of Spidell Publishing Inc.

TaxQuips this week gives us season-end filing statistics, talks about red flags. We discuss tax bankruptcy and if it’s worth it for $2700? Learn about a free resource to help you value your non-cash donations. And end the week being introduced to QDROs and safe investment ideas.

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.


09.15.2008 3rd 2008 Estimated Payment – all entities Due

09.30.2008 Last day to establish SIMPLE plans

10.15.2008 Personal and Partnership Returns – FINAL DEADLINE

10.15.2008 Employers Make monthly Payroll tax deposit

10.31.2008 3rd Quarter Payroll Taxes Due

10.31.2008 3rd Quarter Sales Taxes Due



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.

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

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



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.*


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

(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!*

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

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

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.