Ask TaxMama Issue 533 – Blowing Away the Bad Times

Happy Chanukah, Merry Christmas, Habari Gani?

Dear Family,

We’re getting ready for TaxMama’s Last Minute Tax Workshop – on Monday. It is designed to update you on the high points of things you need to know for your 2009 tax returns. Some tips to help you in 2010 – and things to watch out for! You will also learn a few things you can still do this year to minimize your taxes – or your penalties.
TaxMama’s Last Minute Tax Workshop – December 21, 2009
11:00 am Pacific – for two hours. (CPE for EAs)

To get in free, just buy a copy of TaxMama’s 100% Home-Based Business Tax Solution.

People have been posting questions about material they want me to cover in Monday’s workshop. Please see their notes.

You can find a summary of the Preview Workshop here.

You can listen here:

The winds are spooky this morning. The Santa Anas have been sweeping through the Valley all night, cleaning away all the fallen leaves, debris, and perhaps even pedestrians and small furry things. I could feel the house swaying in the wind – and it’s only a one-story structure. With the wind swirling through the yard, the night was filled with disturbing, ruslting noises – the kinds of sounds Ray Bradbury could so artfully describe. Let us hope the Santa Anas blow away all the misfortune experienced by so many people this past year!

Chanukah is ending. Christmas and Kwanzaa are fast approaching. Many schools will be closing down today, or early next week. The sign on the school across the street from us says it will be closed until June 8th. (Isn’t that a week too long? And starting on a Friday? Huh?) No doubt, you’re getting ready to take some time off – whether on a voluntary vacation/holiday or a forced furlough. Regardless, folks plan to be away most of next week. We may not have an issue of Ask TaxMama next week.

So if I don’t see you, have a lovely holiday season – and live in the moment.

Remember to add helpful tips to . Let’s help everyone get back on their feet!

In IRS News this week IRS Reminds Car Shoppers about 2009 Tax Break. We are still waiting for legislation on the final extender bills and the estate tax. I’ll let you know when that happens.

In the meantime, speaking of estate taxes, you’ll enjoy this month’s MarketWatch article – Beating the estate tax to death – or Estate tax will rise from the dead in 2010.

In today’s Money Funny we get a Prescription For Laughter – and we don’t even have to submit it for reimbursement to our insurance companies!

In TaxQuips this week we learn the tax implications of using a loan on one house to buy another; the taxability of a settlement for Vioxx® ; dealing with the tax implications of winning an expensive prize, then not using it – uh oh!; and whether or not Mom can be a dependent if she receives $9,000 worth of Social Security?

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

Please use the Comments link online.

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Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

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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Here’s a well-thought-out e-book to help you start the
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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.

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