Ask TaxMama Issue 577 – Pre-Thanksgiving

Dear Family, 

What a nice way to start the day. I just heard from Rasmussen College this morning. They just published their list of the 20 best blogs for accounting students. Delightfully, TaxMama and many of my friends are on the list. But there are others I’ve never heard of – and will look forward to getting to know. 

This is Rasmussen College’s first annual list. The students’ responses to previous blogs about individual resources has been very positive. The list is a reflection, both on the tax professionals who take the time to provide useful and entertaining information – and on Rasmussen’s Accounting Faculty, who have extensive business and Internet knowledge. I think I’ll be enjoying their blogs. Won’t you?

Someone sent me a note this week, telling me about the scary news – lost their most recent battle against the State of New York. They are appealing, of course. In the meantime, every business that has affiliates in New York must be collecting NY sales taxes and filing tax returns in NY. That means companies have continued to lock out NY affiliates(people who are paid for having a link on their websites) because it’s too expensive for them to operate with a NY nexus. This is one of the issues I have been alerting you to for years in Chapter 12 of Small Business Taxes Made Easy (and beforehand). There’s updated information about this affects your Internet business in the 2nd edition.

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

Wednesday December 1, 11:00 am PT – Eva Rosenberg, EA

Homebuyers Credits for Tax Professionals

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


Someone followed my advice about how to get more work, even before year end. She just established a solid relationship with a law firm, who instantly sent her a client paying her a small fortune to prepare several years of tax returns.

Follow TaxMama’s career advice – and your earnings WILL increase!

We had such fun Thursday evening during our informal class. People ask really good questions. Believe me, even after all these years, even I learn new things.  

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 points that that Not Everything is Taxable; Some of the Good Things in Life are Free.  Jen Goode points out that DIY isn’t always the best idea. But…she gives you 5 instances when it does work. Phyllis Shelton covers a touchy subject – the impact of long-term care on the family. This gets scarier as we and our parents get older. Liz Strauss tells you about Kids Wish Lists for the Holidays. (She doesn’t know that I pioneered the idea about 15 years ago, creating My WishList and the idea of the universal WishList…but that’s another story.)  Sabrina identifies the Leaks that Drain You – bad habits worth kicking. What a great idea. Tricia Meyers has a great idea for a party – and a frugal way to get the best books – Book Swapping Parties. Am I invited? Doreen Kukral, the queen of green helps us Eat Smart, by become Locavores (not people who eat locomotives, silly!) Find out what that means. It’s a great idea.


At Equifax this week, TaxMama has fun, explaining the tax considerations of winning prizes on game shows – and winning lotteries. Ilyce Glink explains how to think about debt when you’re buying a home. Dan Solin gives advice in a desperately need area – how to improve your investment returns without increasing your risks. Can this really be done? Linda Rey explains an interesting-sounding concept – “Laddering” insurance policies. The Equifax Credit team explains how to protect yourself from credit repair scams.

This week’s blog offers you a special accounting poem, Twas the Week Before Thanksgiving. It also gives you the opportunity to add your own stanzas and win a copy of Small Business Taxes Made Easy, 2nd Edition – which will be out next month.

Incidentally, AccountingWeb has a new publication you might enjoy – Going Concern – focusing on keeping the profits flowing.

In IRS News, The IRS wants to return $164.6 million in undelivered refund checks. Is your refund missing?     Also, the IRSAC reports are out with recommendations on things that IRS needs to fix in their operations.

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

In TaxQuips this week, We start the week with Monty who has to deal with two sets of operating losses for one of his clients. Corporate Net Operating Losses . Someone told Liz that she might be able to report a capital loss for selling her inheritance at less than the value on the date of death. Selling Inheritance at a Loss. TaxMama tackles the 2011 Tax Cuts, to help us understand the real impact of not extending the tax cuts to the ‘wealthy’.  2011 Tax Cuts . We end the week with Joe, whose relatives are getting some very expensive, but useless advice about their inheritance from Dad, who died in the Bahamas last year.  Bahamas Inheritance

November’s MarketWatch column next week, we will cover year-end tax tips for small businessowners.

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.





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!


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 having a sale!

(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  

All done!

Now, it’s all about self-study and hand-holding everyone until you’re all done!

– 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?

You can’t do any better than this!

Phil Yaeger’s CPA Exam Review Course