Ask TaxMama Issue 576 – Sleepy Weekend

Dear Family, 

It’s November. Government offices were closed yesterday for Veteran’s Day, and are open again today. We’ve gotten spoiled with our Federal holidays landing on Mondays so we can have a long weekend.  It’s odd to celebrate an event, however solemn, then have to go back to work the next day. In fact, California’s Legislature passed a law preventing us from tampering with something a solemn as Veteran’s Day – just to get a weekend off.

This weekend, you may still find special celebrations or honors continuing to honor veterans. The GI Film Festival is running this weekend on the Military Channel. Members of the military can get free passes to Colonial Williamsburg. That sounds like a perfect place to visit this weekend, if you’re in the area.

The Department of Veterans Affairs may have more information. And so does Google – look for celebrations in your area. You will meet all the best people.

Oh, if you just want to do something really fun? Go take a tour of the Titanic.  Yes, you really can. There are full scale replicas in Branson, MO and Pigeon Forge, TN. When you step on the ship, you’ll be given a ticket with your character’s name on it. You will get to relive their trip on the Titanic. It’s a museum, and amusement park – and a fun experience.

Someone sent me a note yesterday, shocked. He had just learned that there are over 1,000 government licensing and jurisdictions people must deal with around the country. No kidding? Didn’t everyone know that? Seriously, I take so much for granted, having spent years researching and looking things up to get you answers. I take for granted that you’re as aware as I am of the overwhelming amount of government we must deal with all the time. That’s why I have such a long checklist in the first chapter of Small Business Taxes Made Easy.  I’ve come to realize how easy it is to overlook a license we should have gotten. Incidentally, if you are concerned about your business being in compliance, do you want a short-cut? Here it is ! These folks will give you a summary of all the licenses and registrations you need.

Upcoming Live Classes this week.

Wednesday November 17, 10:00 am PT – Eva Rosenberg, EA

Getting Ready for Tax SeasonGetting Ready for Tax Season

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

Preview the series on YouTube

The IRS Practice Series (all times in Pacific Time)

Team taught with Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA

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. 

EA Class News

Wow. So many more people have passed. Including one person who’s been in the class for years, but never had the courage to take the exam. She finally took the plunge – and passed her first exam. One down – two more to go.

We had the best time Tuesday evening during our informal class. Even I learned something. We’ll be holding these open sessions twice a month until the exam window closes at the end of February.  

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.

Other TaxMama News:

Suze Orman’s new is going strong.

You can ask her questions in the forum – Suze is actually dropping by an answering your questions, just as I do here. Join us and speak to Suze. Here are some of the questions Suze answered this week:

You’ll find TaxMama’s columns there each week, along with a dozen delightful women. This week, TaxMama’s blog helps you if you owe money to IRS – I Owe, I Owe, IRS I Go – and helps you understand the importance of talking to your children about money, in The Time Has Come, The Walrus Said.  Tricia tells you how to survive home parties.  Kim Rowley tells you how to feed your family healthy food, while on a budget. Jen Goode gets creative with chicken nuggets (love those things). Phyllis addresses the scary topic of long-term care. Vicky is facing this coming Christmas with no debt! How did she do this? Sabrina Malone talks about needing more money.  Vicky encourages you to cook with your friends. It’s much for fun – and you can cut costs.

At Equifax this week, TaxMama tries to explain the new laws for 2011. The operative word is ‘try’. Ilyce Glink explains how to think about debt when you’re buying a home. Dan Solin provides guidance about retirement withdrawal strategies in a low-interest rate environment. Linda Rey provides important tips about preparing your paperwork and personal information in case of an emergency. The Equifax Credit team explains how closing a credit account affects your credit score.

Last week’s blog tells you how amusing Tax Court can be. I haven’t had time to write a new column yet – but will for next week!

In IRS News, IRS announces the 2011 VITA grant recipients. These are folks who will be able to provide you with free tax preparation services around the country.

In Money Funnies today, we learn what’s really important.

In TaxQuips this week, we start the week with Alice who paid an artist for his artwork that was destroyed while on display in her shop. Does she need to issue a 1099?

Bruce bought a brand new home with lots of special energy efficientl upgrades.He paid extra. How does he get the tax breaks?

We end the week with Toki, whose home is being sold on a short sale next week. What are the tax implications for her?

November’s MarketWatch column is to come. What do you think I should write about?

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.





11/01/20103rd Quarter Payroll Taxes Due

11/01/2010Employer’s Deposit Federal Unemployment (FUTA)

11/01/20103rd Quarter Federal Excise Tax Return & Payment Voucher 11/15/2010Employers Make Monthly Payroll tax deposit on the 15th of each month 12/15/2010Employers Make Monthly Payroll tax deposit on the 15th of each month 12/15/2010Corporations – 4th Quarter Estimate Due

12/31/2010Last Day to Open KEOGH account for 2010 deposits


From TaxMama® to You!


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