Ask TaxMama Issue 564 – Lucky 13

Dear Family,

Welcome to Friday the 13th.
The days dawns bright and sunny. The squirrels are still quietly asleep before their busy day of frolicking  on their trellis jungle jim and spitting out walnut seed pieces on my car. The birds are twittering quietly, still asleep. Soon, they’ll be up chattering passionately about their latest victory over the neighbor’s cat or local raccoon. It’s a nice, cozy, sleepy morning, and I’d love to go back to bed and snooze a little more.

But, there’s so much to do! You need today’s serving of taxes, laughter and education. Some of you will be joining me for today’s Webinar for Writers, Bloggers and Journalists at 10:00 am. That PowerPoint still has to be finalized.

McGraw-Hill wants my edits on Small Business Taxes Made Easy by next week. There’s still a story to include that I haven’t quite written. I’m doing the final edits and clean-up on the 100% Home-Based Business Tax Cuts – which you’ll have this month. I’ve got to read all about new legislation, finish writing new classes,…and…so much more. Who has time to sleep?

One of my students last night was saying she’s working around the clock. My brother-in-law, who finally replaced his truck’s engine this week (on his own – do you know how heavy and engine is?), seems to burning the candle at both ends. And then there are people who have no work to do? Hmmm….they ought to listen to Jim Kukral’s video, where he tells the story of the brilliant way a woman found to get herself a job.

We’re very excited to announce a new series of classes for you on CPE Link. I will be teaching it with Tom Buck, CPA, who has many years of successful experience securing Offers in Compromise for his clients, and helping people get out of tax debt. Also joining us is Sonya Wilt, with her new Enrolled Agent designation, after graduating from TaxMama’s EA class. Sonya has been working with my friend Tom for quite some time and has become quite an expert in her own right.

The IRS Practice Series will start next month Overview of Collection Issues, which will be a free class. You will find the entire list of 2010 classes below.
Tax Holidays may be coming your way. Check to see if you have back-to-school savings in your state.

This month’s MarketWatch column outlines some of the new laws that may affect your wallet, and taxes. There have been a lot of laws passed lately – and more to come.

Other interesting articles on MarketWatch Tax this week include Tips for Summer Workers, Estate Tax Debates, Turn Your Traffic Ticket Into a Deductible Donation – that’s a new concept!
EA Class News
One of our students found some errors in the wording on the Part 1 of the Exam. I brought this to the attention of IRS and Prometric. They have reviewed all the questions in the exam and concur. There were some errors. All those whose scores have been affected have been notified.  Some (few) people will now learn that they passed. You can thank TaxMama and Wayne M. Davies

One more week and we’re done with Part 2 of the exam. Several people are starting to take Part 3 – and passing.

Yup. You can get a 10% discount on the EA Class if you register for TaxMama’s Family first.
The discount code can be found in the Family Look-Ups resource.
Upcoming Events

August 13, 2010 10:00 – noon PT
Taxes for Writers, Bloggers and Journalists
If you’re earning money from your website, your articles or your blog, you must take this class.

August 18, 2010 at 8:00 am – 9:00 am PT – RESCHEDULED!
The next Tax Roundtable is next month. Will you be joining us?
At the last meeting – we covered a lot topics – you can tune in, the replay is here:
Just scroll down to July’s event.
Upcoming on CPE LINK – with CPE for CPAs, EAs, and more

September 1 at 12:00pm PT
Doing Tax Research Online for Free
Identify reliable sources of tax information,
how to use them and understand them.

September 15 at 10:00 PT –
Roger B. Adams, EA (with minor assist from TaxMama)
Understanding Tax Treaties
Learn the fundamental principles of the purpose and application of tax treaties. Why should you care? Because there are over five million Americans living outside of the U.S., over two million of whom live in the Western hemisphere (principally in Canada and Mexico).

The IRS Practice Series
Team taught with Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA
Sep 13, 9:00am  – 10 Steps to Release IRS Levies on Paychecks or Bank
Oct 8, 9:00am – 10 Steps to Resolving Collection Issues
Nov 1, 10:00am – Hands-on Collections Workshop   
Dec 7, 10:00am – 6 Simple Steps to an Offer-in-Compromise (form 656) 
Dec 10, 9:00am – The Un-agreed Collection Alternatives and Appeals


Homebuyers Credits for Tax Professionals
The specific laws related to your clients.
How to get it rigth the first time. What to watch out for.
And how to overcome IRS Rejections.
Other TaxMama News:

At Equifax this week, you get tax tips for commercial real estate owners; Dan Solin tells you the 6 Biggest Estate-Planning Mistakes You Can Make; Ilyce Glink asks, Is Now the Right Time to Buy a Vacation Home along the Gulf of Mexico?; Linda Rey reports on Insurance Agents vs. Insurance Websites: Where Will You Get the Better Buy? ; and Robin Holland from the Equifax Credit team tells you if Equifax can decline your credit application – and why.
Have you tried out the really nifty tool I showed you in the blog? You get to see how your tax liability would look under three different tax plans.

In Money Funnies this week will make you groan. It’s full of puns. Really good, bad puns.

In IRS News, we learn 9 ways to deal with tax debt.
In TaxQuips this week we start the week with Alex, working as a workship leader, among other things. How does he handle this taxes? Help! Rob is trying to apply a special depreciation-related process/ Needs help. 
Karol has an untaxed internship and wants to know how to pay estimated taxes. Kris Hix, EA and Tracy Bauman, EA pitch in and help. We end the week with Terri who wants to help someone inherit or receive some propery worth over a millin bucks.
Have you always wanted to understand how a Balance Sheet works? Or how to do a tax return when you work in two or more states? Bruce McFarland explains, at the TaxQueries blog!

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!
Shop at or*

Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama®  is watching…out for you.


08/16/2010 Employers Make Monthly Payroll tax deposit on the 15th of each month
08/31/2010 Time for businesses to consider setting up retirement plans
09/15/2010 Partnership Returns Due- FINAL DEADLINE
09/15/2010 Corporate Returns Due- FINAL DEADLINE
09/15/2010 S Corporate Returns Due- FINAL DEADLINE
09/15/2010 Estate & Trusts Returns – Final Deadline; Bankruptcy fillings use the same form
09/15/2010 Individuals, Farmers & Fishermen Pay 3rd Quarter Estimated Tax Payment
09/15/2010 Corporations – 3rd Quarter Estimate Tax payment Due 
09/15/2010 Estates & Trusts 3rd Estimated Tax Payment
09/15/2010 Deadline for Corporations and Partnerships to fund SEP-IRAs for previous year.
09/30/2010 Last day to establish SIMPLE plans for current year
09/30/2010 Time for businesses to consider setting up retirement plans
10/15/2010 Net Operating Loss – Eligible Small Business carry back loss
10/15/2010 Personal Returns – FINAL DEADLINE
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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Use coupon code is A123 for an additional 10% off any product.
(disclosure – TaxMama receives a commission)

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Always a sale at the Queensboro Shirt Company
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They do a gorgeous job.


Take TaxMama®’s 2010 EA Exam Review Class 

Class is going strong.

Part 2 is going strong.
This weekend we cover Corporations and quiz everyone intensely.

Tax Professional and author Wayne Davis ( ) just passed Part I of the exam.
He says ‘I could go on and on about all the valuable info and “insider tips” that you have provided in the class lectures.”

– sign up now – and join the FUN!

A flood of Tax Professionals are interested in
taking the EA Exam. We still have a few handy
dandy totes to hold all your books, notes and discs.

Read the ebook –  Everything You Wanted to Know About the EA Exam
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