Ask TaxMama Issue 530 – Thankful Muchly

Happy Thanksgiving

Dear Family,

Have you ever had one of those weeks when you just couldn’t seem to get into the groove? Yup, it’s been really hard to focus – especially since my head and sinuses have felt as if they were filled up with balloons. You know you should be able to pop them, or depressurize, but nothing seems to work. It took me all week to figure out that I probably have a cold. It’s hard to tell when you’re not really showing signs of fever – just grogginess and the inability to clear your nasal passages so you can breathe. I remember breathing. It felt so natural. Never had to think about it. Now, it’s becoming a taxing experience.

Oh well, lots of hot liquids and sleep should help. Should try not to do the sleeping thing while typing, right? Naturally, this would come now, just as we are about to take a week’s vacation. Lulu and I were talking about this a couple of weeks ago. How busy people never seem to get sick while there’s work to do. It’s so true. I can remember as far back as age 10. I never got sick while I had tons of homework and obligations. But once all the deadlines were met, around the December holidays, that’s when I’d have a cold. My body would store up all the illnesses all year long and just hit me with it for about a week in December. It’s still doing it when the pressure is off. Of course, I keep forgetting it’s coming. Does that happen to you?

Regardless, we’re taking a week off. So you won’t be getting any TaxQuips next week. And probably not even an Ask TaxMama. After all, you’re getting ready for Thanksgiving and don’t want to be following tax issues anyway.

And it is time to be thankful, isn’t it! What’s been great about this year? Well, pretty much everything.

My friends have been terrific to me, showering me with income and great contacts. We’ve been working a little bit more than we wanted to – but this will only last for another year. And it’s worth it.

Reconnecting with friends I haven’t had time to see for ages. That’s been really special. And new additions to the family. That’s always nice. We’ve lost some friends and family members, alas. They were ready to go. Medical science bought them extra time. But, you can’t live forever. They will be missed. A lot.

And my EA Exam students. What a wealth of wonderful people, with interesting backgrounds, issues and perspectives. I love getting to know each and every one of you. And each time you succeed in passing an exam, getting a job, or a new client, or reaching any of your own personal targets, I am thrilled for your successes. You have no idea how exciting that is—it’s like seeing your own children thrive. Each one of you makes me proud.

And confused. We have students in the class from many nationalities, with a variety of language skills and backgrounds. They all get along and treat each other well. See, it’s not that difficult. You find the same sort of experience at universities. People get along. If we can get along on a small scale, why can’t countries? And why is it necessary for …never mind… back to feeling good.

a href=”” target=”_blank”>So tell me, what are you thankful for?

Oh yes, another milestone. My friend, Dr. Bryan Knight is Canada’s foremost hypno-psychotherapist. A few years ago, he created some self-hypnosis tools that my EA students use to help increase they confidence and improve their photographic memory skills. The students that tap into those tools love it!

Well, based on problems you’ve brought to us, about your own financial attitudes and fears, Dr. Knight has put together a self-hypnosis tool to help you overcome your own money fears. It comes with an e-book to give you instructions on how to use it safely. Perhaps you know some who is totally dysfunctional when it comes to money. This is a nifty holiday present.

In IRS News this week you learn that a Military spouse’s income might be tax-exempt, as a result of the Military Spouses Residency Relief Act (PL 111-97)

This week’s AllVoices column deals with the 32% increase in tuition and fees by the Regents of the University of California. If you want an idea of just how long ago I went to UCLA, read on…

You will find some interesting questions, including TaxMama’s answers at the TaxQueries site. Discussions range from Game Show winnings to when to report 1099 income if you didn’t get the money until the following year – and more.

In this week’s blog – TaxMama tells you about IRS Notice 2009-93 – that will let you send out the payee copy of the Information Returns this year, using a truncated taxpayer identification number. In fact, you have time to comment on IRS’ new procedure. So read the blog post for more information. Blog

In today’s Money Funny we address the Important Questions in life.

In TaxQuips this week we learn what you can deduct when you have to spend a fortune to repair your vandalized property; How to prove absolutely nothing; whether an auto service bay/garage will qualify for the first time homebuyers credit; and how to be creative about your flexible spending account.

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

Please use the Comments link online.

Have a lovely Thanksgiving week!

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Your TaxMama is watching…out for you.


12.15.2009 Employers Make monthly Payroll tax deposit
12.15.2009 Corporations – 4th Quarter Estimate Due
12.31.2009 Last Day to Open KEOGH account for 2009 deposits
01.15.2010 4th Estimated Payment for 2009 Due
01.15.2010 Employers Make monthly Payroll tax deposit


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