Ask TaxMama Issue 622 – Using Charities Wisely

Dear Family

What a gloriously busy week! I’ve spent most of it either teaching, or preparing new classes to teach, or finishing up articles for the next couple of months. Have barely come up for air – and there are still to classes to finish preparing for yet today.


How are you doing during this slow, quiet November? Getting ready for the holidays? Are you getting as much mail and email as I am about Black Friday? Have you ever been shopping in the stores on that Friday after Thanksgiving? I tried it once – when I was 18 or 19. Scary. Haven’t been brave enough to return since.  I had never people fight over clothing or small appliances or before, like that (and we were poor, let me tell you!). They grabbed at things and practically tore them apart to get them first – much like folks at the wedding buffets, come to think of it. 


Anyway, these days, you can get similar deals online – all over the place, without leaving the comfort of your home, desk or computer resting place. But do your price comparisons first. Some things that look like a deal, well, it may not be one. 


On the other hand, you don’t have to wait for Black Friday to find deals. I was telling Lulu that we need a printer in the back office. We put one of the old ones back there, since we don’t need to print from there as often. But it’s really crummy. Never mind why. Long story. But…she visited Quill online – where we get many of our office supplies. And ta daa! Yesterday was the last day of a deal on the perfect $159 HP printer – for $59. And there’s no charge for delivery. And they toss in a tin of Mrs. Fields Cookies (or is it Ms Fields?), too! (Pretty much, Quill and Office Depot are our main sources of office stuff, because of the great prices, no-charge delivery, and sensible return policies.)So, do your shopping around – and don’t wait for mass sales days. There are good prices all around you, every day.



I am leaving the picture of the new BUST DIY Guide to Life: Making your way through every day  here, from last week, because I like the way it looks. Ain’t pink grand?! 




In IRS News this week, we get some new legislation – that utterly confuses me. Tax Professionals are getting scary letters from IRS – and it’s not even Halloween!



In today’s Money Funnies & Inspiration, we get to learn the REAL value of our charitable contributions. See what happens to Harry and Esther.


A Week of TaxMama’s TaxQuips


Buying a Business  – Today TaxMama hears from Josh in the TaxQuips Forum who is concerned. “I’m interested in purchasing a business which was owned by a sole proprietor. He owes back taxes. Would I be liable for those back taxes if I purchase this business?”  Read the full article →

Gift Tax Giddiness – Today TaxMama hears from Thomas in the TaxQuips Forum who is in a bind. “Thomas bought a used car from a rental agency, paying by wire transfer, then suddenly got called out of town before he could pick it up. They cannot wait the one, itsy-bitsy, extra day for him to return, so his girlfriend […] Read the full article →

It’s a WAHM Thing! – Way back in the beginning, when the commercial Internet opened up, working mothers found that it was a great place to interact and share information. A variety of sites sprang up, help out, and fizzled out. Some survived.   Today, let me introduce you to the launch of a Work at Home Mom site that will […] Read the full article →

Selling Rental House  – Today TaxMama hears from Debra in the TaxQuips Forum who wants to know. “How can I sell my rental home without paying taxes on the profit?” (Actually, the question is much longer. You can read the details, here.) Read the full article →

Small Business Taxes Made EasyThe 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.      

I give your book to all my clients. They love it. When they have questions, I just tell them to read the book. The answers are in there. And it also gives them a better idea of what questions to bring to me.


Rita Veen

This week’s question for you – What kind of tax benefits can I get if I own my own business?

Read Chapter 10 of Small Business Taxes Made Easy to learn the secret.

TaxMama’s Registered Tax Return Preparer Exam Review Class  

TaxMama has an 8-hour course designed to help you pass this exam if you feel you need one. However, I advise you to take the exam without paying for any course at all, first. This class starts at CPE Link on Monday.

TaxMama’s EA Exam Review Class  

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

The Live course  is now over. Students are busily taking – and passing – their exams.

We will continue to meet twice monthly to help all students (Live and Self-Study) finish passing the exam before the testing window closes on February 29, 2012

Learn more about Taxmama’s EA Exam Review Course

Here’s what one student just said about this class:

” I passed part 2 today on my first try!  I am one happy person today – I was dreading this one!  Thanks so much for all your help.   Anna

There is still time to sign up for TaxMama’s EA Exam Review Course.    There is a Family Member discount of 10%. 

CPE-Link – Lots of courses coming up – and some money-saving bundles  New classes coming soon:  

Nov 21   8:00am-10:00am (Pacific)   Registered Tax Return Preparer Course:Pt 1

Nov 23   8:00am-10:00am (Pacific)   Registered Tax Return Preparer Course:Pt 2

Dec 14   9:00am-11:00am (Pacific)     Top 10 Tax Changes for 2011 Filing

Jan 13, 12  9:00am-11:00am (Pacific) Top 10 Tax Changes for 2011 Filing

Jan 13, 2012   9:00am-11:00am (Pacific)     Top 10 Tax Changes for 2011 Filing 

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

TaxMama Interviews

There is another quote in Liz Weston’s Money column


TaxMama Writing:


This week’s Equifax blog – Tax Implications of a New Baby

It’s a Wahm Thing! Tax Articles

AccountingWeb Blog is all about the job opening at Intuit for the Ask a Tax Expert positions– about 100 of them! Don’t tell me there are not job openings! (Intuit is STILL hiring.) Some of my friends got hired. Have you?

Also on AccountingWeb Blog is In For a Pound – a review of a fun new book by Donald Korn.

Last month’s MarketWatch article -will be about IRS’s new Voluntary compliance program for employers.

You can find daily TaxQuips into YouTube videos


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.

Hugs from your favorite TaxNerd,*

 Eva Rosenberg, EA

Your TaxMama®  










  • 11/30/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month
  • 12/15/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month
  • 12/15/2011 Corporations – 4th Quarter Estimate Due
  • 12/31/2011 Last Day to Open KEOGH account for 2010 deposits
  • 01/17/2012 Individuals, Farmers & Fishermen Pay 4th Quarter Estimated Tax Payment
  • 01/17/2012 Estates & Trusts 4th Estimated Tax Payment
  • 01/17/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month




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