Ask TaxMama Issue 522 – The Book of Life

During Yom Kippur, May you be inscribed in the Book of Life

Dear Family,

This week has flown by. We’ve all been so busy. Lots to catch up, finishing up tax returns for the end of tax season, designing new tools for you to use next year, designing a new TaxMama site to replace the old, stagnant version that’s been up for a decade or more…and processing tons of amended returns to claim the first time homebuyers credit. Speaking of which, we’ve run into a stumbling block. IRS is getting soooo many of these requests, there seems to be a huge logjam in the processing center. I’ve spent much of this week trying to find out just what’s going on. So far, two IRS insiders have not been able to provide any answers. Still digging.

Another topic I am researching, and would love your input, is online gambling. It’s a billion dollar industry. People are spending, and winning – and losing online. Drawing your winnings, we all know, is a taxable event. But the question is – may you deduct your losses for IRS and/or state purposes? I’ve been getting some help from terrific people at California’s Franchise Tax Board. But, in California the bottom line, I am learning, must come from the attorney general’s office. The big question is – is online gambling legal? Or does it depend on the nature of the game/bet? Which games/tables/sports books etc. are legal and which are not? That’s what I’ll be asking the AG’s office as soon as I get a free moment. If you happen to have experience with this issue (as in, surviving and audit) in California or your state, I’d love to hear from you.

As we race for the final tax return filing deadline this year, naturally the Jewish High Holy Days are keeping pace with us. Last week was Rosh Hashanah, the Jewish New Year. This weekend Yom Kippur commences. (That’s why lots of offices and schools will be closed on Monday. Suddenly everyone is Jewish.) Last week, we engaged in comtemplation, apologies, appreciation. This holy day we repent. And we pray to be worthy enough to be inscribed in the Book of Life for another year. That’s a pretty audacious request to make of your diety don’t you think? Hey God, I’ve been so good that I should be entitled to live for another year!

Whew, how many of us have been that good? When I think of how I snapped at people this week, I really must wonder just how worthy I am!

And then there are some of my elderly relations. In pain, infirm, incapable of even getting out of bed without help. Are they holding life so dear that their prayers for yet another year of suffering are sincere? You’ve got to wonder.

Did you read about the 90-year-old man whose wife had dementia and terminal pancreatic cancer – so he shot her and tried to terminate himself? He succeeded for his wife; but only managed to hurt himself. It breaks your heart seeing someone who had the courage to act, having to live with such failure.

Many cultures have the maturity to address these issues sensibly, helping people make a final transition out of this life and pain, with dignity. It’s a pity the civilized world doesn’t treat humans that way. Oh, we can do it for a dog that’s suffering. But a person, who can actually tell you how unhappy they are? Not a chance. That’s a crime against civil and biblical law. Merciful. Yes?

Oh well, as for me? I am bold enough to request life for yet another year. I have too much more to accomplish to waste time dying. How about you?

Tell me about your traditions. I’ve told you about mine.
http://www.taxquips.com/index.php?cat=Tradition!

TaxMama’s AccountingWeb.com blog questions the processing of the 2008 amended returns for the First Time Homebuyers Credit. Do you know what’s going on?
http://www.accountingweb.com/blogs/accountingweb/talk-taxmama

In IRS News this week we learn what to do if you took a minimum distribution from your retirement plan -but didn’t need to because of the 2009. What are your options? You also learn six useful facts about the new improved version of the Education Credits, which are called “the American Opportunity Tax Credit” to ensure you understand that it relates to education.
http://taxquips.com/index.php?cat=IRSNews

In today’s Money Funny a students explains Roe v. Wade to his professor.
http://taxquips.com/index.php?cat=MoneyFunnies

In TaxQuips this week we learn about sweepstakes phone calls; deducting the cost of storing Dad’s property; how to report a business run by two friends; and how PTAs should report the income from their fundraising events.
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=1345

TaxNerd gear makes a bold statement during tax season.
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Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.

www.TaxMama.com
www.TaxQuips.com
www.IRSExams.com
www.taxnerd.net
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TAX CALENDAR 2009
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10.15.2009 Personal returns – FINAL DEADLINE
10.15.2009 Employers Make monthly Payroll tax deposit
11.02.2009 3rd Quarterly Payroll Returns and Pay Taxes Due
11.02.2009 3rd Quarterly Sales Tax Returns and Pay Taxes Due
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SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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Keep your Resolutions:
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Download the book here (just use your e-mail address in this e-mail, so you can avoid subscribing to
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Feel free to share this link with your friends, your clients and your mailing list.
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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
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Join SuccessNet.org for free and learn the 10 Essential Success Keys You Need to Know for You
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GIFT IDEAS
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