Ask TaxMama Issue 567 – Sweet and Healthy Year

Honoring Rosh Hashana

Dear Family,

First let me start with an urgent reminder. There are deadlines coming up – all corporate, partnership and estate tax returns are due next week, on September 15th. Estimated tax payments are due, as well.

Note: The office will be closed and please don’t look for answers from TaxMama – until Monday!

Tonight is the beginning of a fresh, clean new year – 5771 on the Jewish calendar.

You will hear people wishing you a healthy and happy new year.
Or may you be written into the book of life.
Wishing for peace in the year to come.

That is what I wish for you!

Peace in the world, health, sweetness, love, family, friends, and prosperity.

We place a lot of emphasis on good health. There’s wisdom in that – what is a long life if you’re sick, miserable and in pain, after all? Besides, you’ve heard the old Yiddish curse – may you have a long and interesting life.

You don’t understand why that’s a curse? [Evil grin here…]

This has been a rough year for many people.
For the first time in their lives, there are people who’ve always behaved responsibly, who are out of work, out of savings, and nearly out of their homes. Some of the classes we’ve developed, starting in 5771, will teach tax professionals how to help your clients, and to help them keep their bank accounts and homes. Hopefully, among us all, we can help people survive these times with some dignity intact.

In fact, in Money Funnies this week we tell you just how bad the economy really is!

There’s an interesting contest you should know about at British Airways. You can win round-trip airfare anywhere BA flies by submitting an essay. As part of the Face-to-Face campaign, British Airways will award 250 small businesses the opportunity to travel to London and beyond through the British Airways Face of Opportunity contest.  Any entrepreneur or small business owner with a clear business need for international exposure should visit for the opportunity to compete for and win a free flight.

EA Class News

We are dark this week due to Labor Day and Rosh Hashanah.
We are back on Saturday with Roger B. Adams, EA in Portugal teaching
Research and Tax Law, and Penalties and Sanctions

Catch the FALL SPECIAL price – Part 3 live and Self-Study on Parts 1 and 2

Remember, 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

Upcoming on CPE LINK – with CPE for CPAs, EAs, and more

Sep 13 at 9:00 am
Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA
10 Steps to Release IRS Levies on Paychecks or Bank
Learn how to avoid levies and garnishments before they happen.
Once the bank has been levied or wages garnished, you can still prevent the money from being grabbed. Learn how!

Ocotber 6th 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).

Preview the course on YouTube
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.

==>IRS Practice Series: Overview of Collection Issues – Price = ZERO:
This on-demand webcast provides a broad overview of the collections process. From preparing the Power of Attorney – IRS Form 4868, to freezing the collection activity, to Offers-in-Compromise and Appeals, the course will explore the numerous collection issues a practitioner may encounter and lay the ground work for the IRS Practice Series. Topics will be covered in more detail in the dozen courses of The IRS Practice Series – leading to a Tax Mediary (CTM) Certificate upon completion of the series.

Other TaxMama News:

At Equifax this week, you learn about the Tax Repercussions of Divorce. Ilyce Glink tells you to Beware Developers Hawking Empty Subdivisions. Dan Solin tells how Investing As A Couple Can Lead to Marriage Stress . Linda Rey discusses Auto Insurance Options: Collision Coverage Vs. Comprehensive Coverage. The Equifax Experts explain How to Establish Credit with a Joint Account.

This week’s blog discusses the Roni Deutch prosecution. California State Attorney General Jerry Brown has just filed a lawsuit claiming Deutch is a swindler. You’ve seen her late-night commercials. What do you think? Read some history about another firm in the same business. Have you ever tried one to get help from one of these kinds of firms? What happened?

It’s a short week, so we have no IRS News for you.

In TaxQuips this week we discuss whether a daughter can still be a dependent if she is age 24 and a full-time student.

Do you know how to file a tax return when you live in two or more states?

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.

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.


===> Do it Yourself Legal Material

NOLO is offering 40% off during their Annual eBook Sale through June 1, 2010.
Use coupon code is A123 for an additional 10% off any product.
(disclosure – TaxMama receives a commission)

===> Need a Corp, LLC, Registered Agent
Incorp Services Inc. in Nevada – DISCOUNT
20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – no coupon needed

===> Business Uniforms – 3 Choices:

Zazzle   –   Cafe Press  – Queensboro

===> Use your art or others – and customize it
Great for promotions – and to gear up for tax season!

Zazzle your Imagination.  Are you a TaxNerd?
Tell everyone – proudly!*

Create your own customized Calendar at Zazzle
Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

===> Stuff for Pets and Pregnant Moms

Cafe Press is the home of TaxMama® ‘s shops

You can upload your own art and graphics

Get extra discounts for yourself and friends after you order.

===>WOW! Embroidered Logo on ANYTHING – on sale!

Always a sale at the Queensboro Shirt Company
(They have clothes and novelties – and all sizes)
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
=== CPA Exam Review

Looking for a great course?

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Phil Yaeger’s CPA Exam Review Course