Join me soon. We will be teaching IRS Practice Series: The Un-agreed Collection Alternatives and Appeals at 9:00 am PT TODAY!.
Happy birthday to my brother David – and Dame Judi Dench. Two wonderful people, born on the same day. Of course, in my brother’s case, his birth certificate shows the wrong date. How could that be, you ask? Simple, his mother knew how to do math, but couldn’t count. Huh?
After three grueling days of being in labor, coming close to death, but not quite, Mom finally gave birth to David. Knowing she had been in labor for three days, she added 3 to the date she entered the hospital, which was December 7th. Simple math, right. Of course, it wasn’t until long after, when the pain and anesthesia wore off, that she realized the error. The 7th was the first day. Three days of labor covered the 7th, 8th, and 9th. Ooops. See, how important it is to know the properties of simple mathematics – and when 3 and 7 don’t add up to 10?
Speaking of adding up. The news laws not adding up. It appears that with, what they claim are good intentions – to protect the taxpayer, our House of Representatives refuses to pass to the compromise tax bill. There’s a lot of bickering still going. Personally, at this point, I’d have had mercy on my constituency and passed A tax bill, limited to two years. Then, I’d have put another date on the House calendar for 2011 to hash out a more permanent, or long-term set of laws. Read today’s AccountingWeb Blog to see how this will impact you, me and your tax software. Read on.
Have you seen our latest little fun tool? You can get the daily TaxQuips on YouTube now.
Daily TaxQuips from TaxMama®
14 videos | 3 subscribers
Yesterday, we started shipping the book all our friends who helped shape it. Some are featured in vignettes in the book. Others took the time to review it and write about it. We’ll still be shipping next week, so people have time to give them as holiday gifts.
Did you know that the business gift deduction is limited to $25 per person per year? This book is well under that price. In fact, if want to give autographed books as gifts, you can order them, 5 at a time. Be sure to tell for whom to autograph the book. NOTE: The last day to get autographed books in time for the holidays is December 16th. TaxMama will be on vacation and won’t be able to sign after that.
You can pick them up inexpensively at Amazon.com.
What else is going on?
In an interesting conversation with CompleteTax this week, they announced that their 2011 site is launching today. It’s not ready yet – so check on it later today. They will have a lot of terrific new features for you next season. One of which is – letting you start entering data to project your 2010 tax numbers as early as this month. If you start it, you will be able to lock in their early-bird prices – without even entering your name or Social Security Number – just a username and password. It doesn’t matter how late you end up preparing that tax return. Starting it early will lock in the prices. Hmmm.
IRS has recently announced they will be lowering the price for Enrolled Agents to apply for or renew their T-Cards to $30. Unfortunately, they are leaving this open to comment – but haven’t told us where to post our comments – until early January. So if you want to apply now and get your card or renewal in time for tax season – you’ll need to use the existing Form 23 and pay $125.
Upcoming Live Classes
The IRS Practice Series (all times in Pacific Time)
Team taught with Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA
TODAY! Dec 10, 9:00am – The Un-agreed Collection Alternatives and Appeals
Preview the series on YouTube
There are lots of other great classes here, too. Including Vern Hoven’s year-end update, course on Excel, and specific tax issues you need to learn on the spot – just sign up and download replays of live sessions.
Upcoming on CPE LINK – with CPE for CPAs, EAs, and more
SELF-STUDY at CPE LINK:
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
This time of year, there really isn’t time to start studying for the EA exam and finish it all by the end of the year. Perhaps by the end of February, but only for people who are not preparing tax returns until March.
Register for the full Self-Study class now. Select the one or two parts of the exam you DO have time to study this year. Get the updated material for the other parts next year at no additional charge – and no shipping (within the US).
Remember, you 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:
Just visit Suze Orman’s new MoneyMindedMoms.com site. You will find lots of practical money-saving tips – and ideas to help folks struggling with time, money, conflicts and more.
- You can ask Suze questions in the forum – Suze is actually dropping by an answering your questions, just as I do here. Join us and speak to Suze.
You’ll find TaxMama’s columns there each week, along with a dozen delightful women. This week, TaxMama’s blog covers that eternal question – what records should I keep? And How long? Liz wants you to challenge your young entrepreneur to play rich. Sabrina is concerned with putting food on the table. Tricia tells you about her best $15 lunch investment. Jen has a cookie making day. What fun! Doreen tells you about organic food. Sabrina helps you stretch a dollar. Kims has tips on how to save money on holiday travel.
At Equifax this week, TaxMama tells you the tax advantages of being charitable. Ilyce Glink tells you how to cut your power bills without giving up comfort. Dan Solin tells you why you need a pre-nuptial agreement. Linda Rey discusses domestic partner insurance – this isn’t just about same-sex couples. The Equifax Credit team gives you crucial information – about how to dispute personal information on your credit report.
This week’s AccountingWeb.com blog describes some of the problems the delay in getting a new tax law is causing. You may have to wait to file your own tax return because of this. Why? Read on.
Have you seend AccountingWeb’s new small business publication? Going Concern – focusing on keeping the profits flowing. http://goingconcern.com/subscribe/
In IRS News, we get some tips for folks operating, or involved with exempt organizations. You will also find the 2011 mileage rates.
In Money Funnies today, we see if we’re able to keep up with the times.
In TaxQuips this week, We start the week with York, who’s getting a small fortune for renting his house out for only three days, to a company filming a commercial. He wants to know if this income is truly tax-free? Renting For Filming . Haley is working on an Offer in Compromise and wants to know the best way to get the value of a timeshare unit. Value of Timeshare . We end the week with TaxMama giving an interview to Lisa Picarille on Geek.fm – and writing up an overview about how to make real, honest-to-goodness living via Affiliate Marketing. How to succeed in Affiliate Marketing in 6 Easy Steps http://taxmama.wpengine.com/category/tax-quips/
This week’s first MarketWatch column will be part of a special Guide to Giving. It will be published next week. My story will get filed later today.
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!
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 – http://twitter.com/TaxMama
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
http://vurl.bz/taxmama/Incorp – 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.
EA EXAM NEWS & SOLVING THE TAX PUZZLE
Take TaxMama®’s 2010 EA Exam Review Class
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