Ask TaxMama Issue 600 – Wow Quite a Milestone!

Dear Family,

Join me today at 11:00 am PT, as I visit Paul Petillo, author of Retirement Planning for the Utterly Confused (love that title!) on Financial Impact Factor Radio

600 issues of Ask TaxMama!  Wow!

 Thanks to all of you who have been with me since the beginning. It’s been an interesting roller coaster ride, riding the waves of tax changes, legislation, enforcement, and meeting the kinder, gentler IRS. We have saved thousands of people millions of dollars in taxes, penalties and interest – and erased fears and depression. And we’ve helped people laugh a little and have fun with taxes.

During these past 11 ½ years, we’ve watched history being made and changed. The Internet has had enormous impact on tax return filing, electronic filing, and IRS resolutions. 

The IRS has developed, what is probably the most extensive website in the world, serving the needs of the largest customer base, with surprising efficiency, considering how much use it gets. The public resources are extensive – the secure resources are relatively well protected. There is a treasure trove of information, learning tools, forms and publications – spanning many years. I live on this site – but even I have never tapped all of the available tools. isn’t nearly as extensive. Somehow, we’ve just never managed to get the millions of dollars IRS has on tap. But, I’ve done my best to try to filter the tax information out there in the world – and bring you a manageable bit of it every day. 

Along with the information, I’ve done my best to answer your questions – and to give you answers, or point you to resources you might not get anywhere else. Some of the information presented here, in the daily TaxQuips podcast, and in the TaxQuips Forum contains answers and ideas many of you have never gotten anywhere – not even from your own tax professionals, teachers or mentors. That’s because the information here comes to you from a background of decades of experience – mine, and Team TaxMama’s. 

Yes, we often advise you to seek the help of experienced tax professionals. There are times you can handle tax preparation and issues, yourself. Other times, even though it may look easy, I know the unseen complexities behind the seemingly simple task you’re trying to perform. 

Remember, I sit in meetings and classrooms with people who have even more experience and expertise than I have. They argue about the handling of matters that seem so simple and straightforward to you. Very thought-provoking discussions, based on their research or feedback from tax agencies. Often, I learn of dimensions that had not occurred to me. 

However, despite the complexities, the goal here is to answer your questions as completely as possible, to point you to resources that can help you learn more on your own – and to help you keep your taxes as low as legally possible.

Lower taxes, achieved ethically = higher profits and increased joy


Small Business Taxes Made Easy

The new, award-winning Small Business Taxes Made Easy is getting lots of attention.  Andrew collected some of the reviews and awards generated by this book. What a nice thing to do!

Today’s question for you – Successful corporations all have Boards of Directors. Who do you have to advise you and mentor your business? 
Read Chapter 1 of Small Business Taxes Made Easy for more details.

TaxMama’s EA Exam Review Class 

An H&R Block group studying in NJ met last night – ALL were impressed by your presentation.

 Do you want to know more about the IRS Special Enrollment Examination? Please replay Everything you Ever Wanted to Know about the EA Exam

There is still time to sign up for TaxMama’s EA Exam Review Course.  The class started last night. You’ve only missed ONE class. This is the liveliest, most enthusiastic group of students ever. You’re going to love your study buddies! 

The only discount left is the discount for Family Members of 10%. 

IRS Practice Series Continues 

The next session addresses the mysteries of IRS Penalties –  Computing Or Recalculating IRS Assessments For Interest And Penalties Join us on June 7th.

 Remember to sign up for the whole IRS Practice Series. The 5 classes this summer will run from May through July. There’s a discount if you sign up for the whole series at once. 

Incidentally, if there is anything else you’d like to learn more about, please let me know. We’ll develop the classes for you. 

Join TaxMama on the Air 

Today at 11:00 am PT, as I visit Paul Petillo, author of Retirement Planning for the Utterly Confused (love that title!) on Financial Impact Factor Radio

Thursday, May 26th, 5:30 am PT with Jim Blasingame, the Small Business Advocate, talking about the small business health care credits, deductions, etc. Call in with your questions. 

Monday June 13th  9:00 am – 11:00 am PT with Bob McCormick at KFWB’s Money 101. Call in with your questions. 

Ask TaxMama Issue 600

 You will find the highlights of this week’s articles, below, along with this week’s features – IRS News, Money Funnies, and more. 

Remember, we will be using Twitter more and more often, to get quick notes and updates out to you – . You don’t need to subscribe to Twitter if you’re on Facebook. Just friend me there. The posts will appear there, as well. 

In today’s issue of Ask TaxMama

At the they explore the idea of raising the mileage rate for the rest of the year, the future of FASB, and online etiquette . Some fun topics.You can win a signed copy of Suze Orman’s Money Class at . I’ll be back to my weekly column there, starting next week. 

Drop by MarketWatch next week for the newest TaxMama column. Hmm…what should it be about?

This week’s Equifax article will titillate you with Celebrity Tax Scandals.

In IRS News, IRS celebrates Small Business Week with lots of resources and tools for you. You already know about some of their online courses coming up. I’ll keep you posted! 

In Money Funnies ,  you get a taste of the wisdom of the aged – and learn why an 80-year old woman is using birth control. 

This week’s TaxQuips  Amy gets ripped off by her ex – and you get some tips to prevent that from ever happening to you. Steve has been struggling to pay past due taxes – and reminds us about a strategy YOU should employ if you ever have to pay back taxes yourself. Trisha was freelancing for a while, until the company hired her as an employee. What should she do about the estimated tax payments due for the time she was freelancing? Sirian is learning the bookkeeping considerations for businesses collecting and paying sales taxes. 

Note: You can view them all on YouTube, too at  Daily TaxQuips from TaxMama® – taxmama1’s channel.

A special tip about how to incorporate your own business (or your client’s) for fun and profit.

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!

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Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama®

Your TaxMama®  is watching…out for you.





06/15/2011 Individuals, Farmers & Fishermen Pay 2nd Quarter Estimated Tax Payment

06/15/2011 Corporations – 2nd Quarter Estimate Tax payment Due 

06/15/2011 Estates & Trusts 2nd Estimated Tax Payment

06/15/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month

06/15/2011 US Taxpayers Overseas Individual Personal Returns due 

06/15/2011 US Taxpayers Overseas Claim Foreign Earned Income

06/30/2011 File Form TDF 90-22.1 – Report of Foreign Banks with $10,000 anytime during year

06/15/2011 US Individuals Overseas Personal Return Extensions due 


From TaxMama® to You!


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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.




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