Ask TaxMama Issue 486 – Exciting Changes Coming

Happy Universal Letter Writing Week

Dear Family,

Welcome to the first Ask TaxMama of 2009. This year, tax law changes will be at the forefront of the news. Even before taking office, President-elect Obama is working with Congress to start looking at a stimulus package that will turn our tax world upside-down. TaxMama and MarketWatch – and all my other tax writer and blogger buddies will be working hard to keep you up-to-date. In fact, next week, I will prepare a complete update of the 100% Home-Based Business Tax Solution, with links to all the recent laws (and links to some key summaries). So, if you’re in business, that’s going to be your very best source of current information. It will be updated at least once a month.

Whether you’re in business or not, January is the time to catch up on a number of different thigs. You will find a checklist of 7 Things to Do Do this month in TaxMama’s article.

One more thing you should remember to do, if you are a student, or have students in the family – since it’s harder to find funds for college these days, it’s important to start getting your applications ready early and to start shopping around. Don’t wait for the schools’ or colleges’ February and March filing deadlines. The Free Application for Federal Student Aid (FAFSA) site Free Application for Federal Student Aid (FAFSA) will let you enter information and save it. You can add more data as you go along. The application doesn’t get submitted until you sign it electronically and transmit it.

Be careful about the loans you find. Read all the fine print. Or get someone to help you read it who understands the nuances of the contracts. TaxMama has received reports that some students were shocked to discover unreasonably high interest rates on the student loans they had gotten through Sallie Mae. Money, if you can find it, should be cheap right now. Lock in low, fixed rates. Perhaps help you compare loan rates and features. Remember – READ THE FINE PRINT!

In today’s IRS News we have the Taxpayers Advocate’s annual report to Congress that has just been released. It contains a very important set of recommendations, some that IRS Commissioner Doug Shulman has already started to implement. We also have some bad news. IRS is seeking to recover billions of dollars of fraudulent EITC credits – and has started auditing your tax professionals, looking for errors. Read today’s IRS News to find out why you should care.

Today’s Money Funny explains how women add value to all things.

Our Job Advice of the Week provides questions you should be asking during this recession.

In TaxQuips this week, we provide a source for anyone to start learning about U.S. tax laws; we discuss how to report a jackpot; we help someone reconstruct his earnings history for several years, when he doesn’t even know where to start; we discuss paying wages to family when they don’t really want to work (and be sure to read Tom Blair’s story)!

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 during tax season.
Shop at or*

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.


01.02.2009 File Form 2290 – Heavy Highway Vehicles

01.15.2009 4th Estimated Payment Due

Farmers and fishermen. Estimated tax for 2008 Due

01.15.2009 Employers Make Monthly Payroll tax deposit

01.31.2009 Furnish W-2s/1099/1098s to recipients

01.31.2009 File Quarterly/Annual Payroll/Sales Tax Returns

01.31.2009 Individuals – Filing personal return and pay all taxes

Without Penalty if January 15, 2009 estimated payment missed


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 2009 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)

Customised Personal or Businesswear – 3 Choices:

Zazzle – Cafe Press – Queensboro

It costs much less than you think to be creative, and to develop your own look and identity.

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 business, 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.