Dear Family,
This weekend encompasses Fathers Day – so here’s a special card for all the fathers and folks who love them. Watch it play out – these Jacquie Lawson cards are so charming!
Hooray for California. After forcing the state legislature to pass a budget bill on time or lose their pay for every day the bill is late…they passed a budget bill!
Remember, most of our Federal and State legislators have legal training. They understand how to use the letter of the law to circumvent the spirit of the law. The California Legislature slapped together any old set of number, knowing full well that Governor Brown would veto anything but a real budget. So, THEY continue to get paid. That wasn’t exactly the intent of the law. The intent was that if government agencies and government-funded programs can’t get paid because there is no budget, they should not get paid either.
Naturally, as someone who makes a living by reading the letter of the law, I have to applaud their understanding of detail, don’t you?
This month’s TaxMama’s Tax Roundtable was very lively! And we got the recording up pretty quickly. The audio on some of the first 15-18 minutes is choppy. We’ll try to clean it up. Meanwhile, just skip over those parts. You can pause the replay and read the notes in the text chat area. We covered some rather interesting topics, including couples in business together – should they file as a partnership or use two Schedules C; how to straighten out someone’s problem when they have an S corp, but didn’t take any wages. And lots more fun topics.
Today’s IRS News is a round-up of IRS announcements this week as IRS loosens up on a variety of stringent rules.
As to this piece I posted earlier in the week, I don’t know if this is political or funny. You decide. It’s a proposal to change the way our Congress is run.
In today’s Money Funnies & Inspiration, we get some Information, Please.
A Week of TaxMama’s TaxQuips
We start the week with Terri, who is suddenly faced with more onerous State filing requirements for her business’ unemployment taxes. Is she unique? Shaun has been reading TaxMama’s articles about writing off your family vacation. He wants to write off his cruise to the US Virgin Islands. Hmmm. Can Mimi’s husband get a deduction for all those out-of-pocket expenses he incurs as a coach without getting reimbursed? We end the week with TaxMama winning an appeal about the Homebuyer’s Credit. This is something that may help someone you know whose tax credit was turned down.
