Ask TaxMama Issue 556 – Fishing for Great News

Happy take a kid fishing week

Dear Family,

Well, AT&T was out here this week fixing the Internet service they installed last week. Now it’s all running smoothly. But to get one of our computers online, we needed to get an extra hub. Very odd. It seems one port on the main hub seems to create a phantom IP address. (only real geeks would understand that one!)

Of course, you already know about misadventures with the copier before dawn yesterday. The reason I bring it up again? Not everyone gets our emailed issue – and I want people to know about the resource I found yesterday – . After you get past the turkeys…you are apt to find the perfect expert to help you fix anything – whether for money or gratis. This fellow from WheatlandSvc understood the workings of a Minolta copy machine that Minolta no longer supported on their tech site. He was able to help me restore the machine to working order, giving me clear instructions even I could follow. (It was frozen, with a message telling me to call for a technician – NOTHING would clear that message!)

Next time you need something fixed, try this service. If there other folks like him on the system – WOW!

Speaking of needing to make copies before dawn yesterday, they were for a speaking engagement at the Sherwood Country Club in Thousand Oaks, California. This IS a lovely place, with great, big, huge houses, probably costing a couple of million dollars (spaced abou 15 feet from each other???). The group was the Independent Writers of Southern California (IWOSC) in Ventura. Such a delightful group of people, working on a variety of writing projects.

One person asked if I have a list of questions you could ask if you were interviewing a tax professional. Well, it just so happens I wrote a terrific article on the subject over 10 years ago, when I first started the TaxMama site. And the article is still totally relevant today – so I revived it for the new site. The second page of the article has a list of 10 questions for you to consider asking.

While I was putting this program together for IWOSC, I realized there just would not be enough time to cover all the issues that writers really need to know. And that I know a lot of writers and bloggers and journalists… some of whom really could use some guidance. So…another TaxMama webinar is born:

Join me on July 14, 2010 – 10:00 am – NOON pacific time
TaxMama’s In Depth Tax Web Workshop for Writers, Journalists and Bloggers
Moving on to very current events – there’s news on Homebuyers Credit front. It seems that lenders are being overwhelmed trying to process the volume of paperwork from new homebuyers. They don’t think they can finalize all the loans and close all the escrows by June 30th. Talk about scrambling! The Senate has a bill pending that will grant us until September to finish processing the sales that were initiated before April 30th.  This legislation has not passed yet.  It’s just proposed. But from the looks of it, it’s likely to pass. Thanks to tax pro Alex Pierre-Louis for this update!

At Equifax this week, we talk about what paperwork you need to keep – probably the number ONE question that people ask me. Ilyce Glink tells you how to find a great real estate agent. Dan Solin teaches you how to create a great retirement plan. Linda Rey addresses the issue of flood insurance – and what to do before and after a flood. That could be critical to know in these days of erratic weather patterns. And the Equifax experts talk about things your college kid needs to know about credit. If you’ve every seen how they go wild with their new credit cards – you will want to read this with your new college student. this week reports higher than expected oil spillage (over 40,000 barrels a day), how Apple fans are reacting to the new iPhone, after terrific gains yesterday, the market is down again. And mortgage rates hit 2009 lows – time to refinace perhaps?
You will also find lots more useful tax information in the Tax Guide.

In this week’s blog, I alert the tax pros to the questions you will be asking them when you interview your new tax professional this summer.

Looks like we’ll have a lot to talk about at the next Tax Roundtable in June. IRA to Roth conversions, the new Registered Tax Preparer program, Registered Domestic Partner tax returns, tax issues for writers…join us at the next TaxMama’s Tax Round Table discussion on June 24, 2010 at 8:00 am PT.

In Money Funnies this week, we really have to wonder how some people survive!

In IRS News, we learn about the new Registered Tax Preparer license. This is important for all tax professionals – even EAs and CPAs have non-Circular 230 staff in the their offices. This is important for taxpayers. You will finally have an official standard that your tax pro must meet. Of course, we know that all the tax professionals who read this publication far exceed IRS’ minimum standards. It’s the ones who don’t read TaxMama – or anything else to keep them current – that IRS is targeting.
In TaxQuips this week we meet Mona and her out of state QDRO and learn what a QDRO is – and if you have to report income in both states; whether an artist’s sales are a business or hobby; how to keep your business expenses separate from your personal expenses when you run your business at home; and what forms you need to include when you amend your tax return.
Have you ever been to an IRS Tax Forum? I outline the pros and cons – and how get the most of a large venue tax event like the IRS Tax Forum in Las Vegas. Hey, if you’re coming, let me know. I’ll invite you to our party the night before the event starts.

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 year-round.
It helps attract the opposite sex!
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Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama®  is watching…out for you.


06/15/2010 Individuals, Farmers & Fishermen Pay 2nd Quarter Estimated Tax Payment
06/15/2010 Corporations – 2nd Quarter Estimate Tax payment Due 
06/15/2010 Estates & Trusts 2nd Estimated Tax Payment
06/15/2010 Employers Make Monthly Payroll tax deposit on the 15th of each month
06/15/2010 US Taxpayers Overseas Individual Personal Returns due 
06/15/2010 US Taxpayers Overseas Claim Foreign Earned Income
06/15/2010 US Individuals Overseas Personal Return Extensions due 
From TaxMama® to You!

Follow TaxMama®’s Tweets –

You are invited to put a TaxQuips Widget on your phone, social networking page, website, or… You’ll get the TaxQuips as soon as they published – long before they are distributed in by e-mail. It’s a nifty gadget. Just pick up the code and paste into your site or application.

Download TaxMama’s 2010 iphone Tax Calendar. My gift to you.

Never miss a tax deadline again!
The customizable tax calendar is here.
Add or Remove dates. Add your own reminders – get alerts.


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They do a gorgeous job.


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2 thoughts on “Ask TaxMama Issue 556 – Fishing for Great News

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