What a shock! My publisher just sent me a note congratulating me. My book just won the Silver Medal in the Axiom Business Book Awards – Business Reference Category. WOW! I didn’t even know. Sheesh…you mean all those people who’ve been reading the book and using it – are right? It IS good? Well, it IS meant to be helpful. It IS meant to help you build a business that you can live on, that will prosper and make you happy. That was the idea. I hope it’s help you.
This has been a busy week. I devoted a lot of time to answering questions all over the place – on the radio, on Facebook, on WSJ digital, on the TaxQuips Forum. I have tried to answer every single question that has come in.
But sometimes, since I am not here, Members of Team TaxMama have answered them first. And there have been some good answers, with helpful resources. Some of the wonderful people who’ve taken the time to answer this week include Mike Emeigh the NC TaxPro – who managed to find a surprisingly interesting reference to an IRS conversation with a Congressman about deducting the costs of storing umbilical cords. (I don’t know if I would have found that!) Kris Hix, EA in Kentucky, who writes a newspaper column. Her article this week is about Starting a Business. Rita Lewis an Enrolled Agent from CT tackled a series of questions about filing amended tax returns. Tax Nerd David Toelkes, a real estate professional in SC answered a question about filing in Massachusetts, when I didn’t even understand the meaning of the question. He understood that MA has a requirement (and a penalty) for residents to have health insurance. Who knew?
An interesting thing happened to Tracy Bauman, an Enrolled Agent in Hawaii. Several clients came to her office needing help getting prior year tax credits for their adoptions. Why? Because H&R Block started advertising about the adoption credits – which can be worth as much as $13,170. We want to thank the good folks at H&R Block for generating all this business for Tracy.
Thanks again to everyone who’s been pitching in and helping out! When tax season is over…you will be getting gifts. Thank you. Thank you. Thank you!
You will find the highlights of this week’s articles, below, along with this week’s features – IRS News, Money Funnies, AccountingWeb Blog, and more.
Remember, we will be using Twitter more and more often, to get quick notes and updates out to you – www.twitter.com/taxmama . You don’t need to subscribe to Twitter if you’re on Facebook. Just friend me there. The posts will appear there, as well.
This was a BUSY week, writing and answering questions.
With Kelsey Hubbard on the WSJ Digital Network – Tax Report.
This week will be about Making Estimated Tax Payments
Last week – Giving Yourself Credit
KFWB 980 radio with Bob McCormick on Money 101 – 2 hours live call-in.
(He cuts up the interview into brief snippets afterwards.)
We will do it again on April 18th – so you will be able to get answers to last-minute questions.
Equifax Facebook TaxMama Chat to answer live questions – You can replay yesterday’s chat here
http://eqfx.cm/evalcLast Wednesday, as part of IRS speakers team,
Eva Rosenberg, EA (NAEA/CSEA) and Carol Thomas, EA (NATP/NATP-CA)
We used the IRS PowerPoint – topic – Small Business Taxes
Valley Economic Development Council – Downtown LA
5:00 PM – March 23, 2011
Note: Their idea of a micro-loan is $50,000 – They can fund them in-house!
This week’s MarketWatch article How to Find your Basis for Capital Gains
http://www.marketwatch.com/story/how-to-find-your-cost-basis-for-capital-gain-taxes-2011-03-25?siteid=nbchIncidentally, these columns are all syndicated through the Dow Jones Newswire.
WSJ Tax Blog – How to Pay Estimated Taxes
http://blogs.smartmoney.com/tax/2011/03/24/how-to-pay-estimated-taxes/?mod=SMBlog&mod=smartmoneyThis week’s Equifax article is about the Gift Tax
http://tax.equifax.com/2011/03/do-i-get-deduction-for-my-gifts-or-do-i.htmlYou can find daily TaxQuips into YouTube videos
http://www.youtube.com/taxmama1#p/uAnd again, there’s more…I just can’t remember it all
In IRS News, IRS tells you about Innocent Spouse and Injured Spouse issues – and how to protect your refund from your spouse’s tax problems.
In Money Funnies we learn when even the Lord must make a practical decision.
Note: You can view them all on YouTube, too Daily TaxQuips from TaxMama® – taxmama1’s channel.
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.
03/15/2011 S-Corp Election Decision Due (if Applicable)
03/15/2011 S Corporate Returns Due / Calendar Year
03/15/2011 Issue K-1’s S Corporate Returns / Calendar Year
03/15/2011 Corporate Returns Due / Calendar Year
03/15/2011 Corporate Returns/S Corp Extensions Due / Calendar Year
03/15/2011 Foreign Persons US Income subject to withholdings
03/15/2011 Annual Tax Return of US Income subject to withholdings of Foreign Persons
03/15/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month
03/15/2011 Electing Large Partnerships – Issue K-1s to partners – even if you’re on extension
03/31/2011 Electronic filing of W-3’s with Social Security Admin including issued W-2’s
03/31/2011 Electronic filing of US transmittal of US information Returns
04/18/2011 Last Day to set up and fund IRAs and Roth IRAs for previous year
04/18/2011 Individual Personal Returns due
04/18/2011 Personal Returns due – Nonresident, US income, etc.
04/18/2011 Personal Returns due – Easy Form Return
04/18/2011 Personal Returns due – Not Itemizing Return Form
04/18/2011 Personal Return – Extensions due
04/18/2011 US Gift and Generation-Skipping Transfer Tax Return
04/18/2011 US Gift and Generation-Skipping Transfer Tax Return Extension Due
04/18/2011 Partnership Returns due
04/18/2011 Issue K-1’s with Partnership Returns
04/18/2011 Electing Large Partnership Returns due
04/18/2011 Estate & Trusts Returns are due; Bankruptcy fillings use the same form
04/18/2011 Partnership, Estate & Trusts Returns – Extensions due
04/18/2011 Individuals, Farmers & Fishermen Pay 1st Quarter Estimated Tax Payment
04/18/2011 Corporations – 1st Quarter Estimate Tax payment Due
04/18/2011 Estates & Trusts 1st Estimated Tax Payment
04/18/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month
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.
===> 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 2011 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