Ask TaxMama Issue 636 – Womens Week

Dear Family,

It’s already been a very busy morning – and I have to run out for an appointment.

So my comments will be brief. Thanks a ton to all the people who challenged my advice this week. You did a wonderful job researching capitalizing assets vs. writing them off; proved that under-18 newspaper carriers don’t have to pay self-employment taxes – and more. FABULOUS JOB!  (And look how much some of you learned about research. I am very proud of you!)


One of my little distractions this morning was trying to establish 42 years of basis on a mutual fund that was sold last year. I’ll tell you about it in next week’s MarketWatch column. I LOVE this resource. Wait until I tell you what else it does.

More fun things. TaxMama’s Utlimate Tax Nerd Contest is ended. Our Sixth Week Winners  in TaxMama’s search for the Ultimate Tax Nerd of 2012 are:

Winner of the POPULAR VOTE – Melissa Guy for The Taxorcist with the most views! Congratulations on a creative and provocative entry!

Winner of IShade’s Rob Nance’s choice is – Sherry Diamond for Office birds

Rob chose Sherry because “It’s one thing to balance the books, but it’s entirely another matter to balance a bird upon one’s shoulder. Having a bird in the office, without a doubt, has to increase the level of enjoyment required during the long hours of tax preparation this time of year. The fine feathered friend probably keeps the tax preparer from flying the coop, too!”

I love these entries, too! But there are others that are also wonderful. People have been rather creative. I love your imagination.  Please visit and vote on the entries.


Sherry gets an extra bonus prize this week, contributed by CPE Link – self-study course, Excel Speed Tips, it comes with 3 CPE hours, value $49.00!


The contest OVER!  TaxMama will select the GRAND PRIZE WINNER on April Fools Day.  There are  $5,000 worth of prizes, including TaxMama/IRSExam gift certificates for each and every winner, ranging from $25 to $100, and tax software from CompleteTax, H&R Block, TaxAct, or TurboTax for all the winners.


In today’s Money Funnies, you learn to identify when you’ve too much quality assurance.


In today’s IRS News we learn how tax refund can be grabbed to cover some of your or your spouse’s debts. If that’s been happening to you, now you’ll understand why. We have a special article from Cindy Lauren about the legal and financial boundaries of Non-Profit organizations.


The Taxpayer Advocacy Panel (TAP) is looking for volunteers in certain states. It’s an excellent opportunity to improve the tax system. Two TaxMama graduates are presently on the panel! Incidentally, here are some good resources for you: The SBA’s Women Businessowners site. IRS video about worker classification – employee vs independent contractor



The next article at could change your life. It’s all about how to use  The Non-Profit as a Business Model.


Remember Wazzub. OVER 3.75 millions have joined. And it hasn’t even launched yet. That’s pretty darn successful. Isn’t it time you looked at this, too? The launch date is fast approacting!


Remember to follow TaxMama®’s Tweets –


Have you grabbed the TaxQuips Widget for your phone, social networking page, website, or…? You’ll get the TaxQuips as soon as they published – about an hour before they are distributed in by e-mail. It’s a fun gadget. Just pick up the code and paste into your site or phone app.


TaxMama’s fun new contest has ended. TaxMama will announce the Ultimate TaxNerd of 2012 on April Fools Day!

1) Weekly Equifax blog is still going strong. Organize Your Paperwork Before Filing Taxes MarketWatch Tax rules for paying family for in-home care
BizFilings (I will be writing a half dozen articles for them this tax season) The Non-Profit as a Business Model


Who is Better at Dealing with Tax Problems? EAs or CPAs


2) Radio/Print Interviews done
Recorded something for the WSJ radio
Spoke to NPR at length for an NPR/NYT feature next month


3) You can replay my chat with Jim Blasingame, the Small Business Advocate


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!

TaxNerd gear makes a bold statement year-round.

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama®





03/31/2012 Electronic filing of W-3′s with Social Security Admin including issued W-2′s 03/31/2012 Electronic filing of US transmittal of US information Returns 04/17/2012 Last Day to set up and fund IRAs and Roth IRAs for previous year 04/17/2012 Individual Personal Returns due 04/17/2012 Personal Returns due – Nonresident, US income, etc. 04/17/2012 Personal Returns due – Easy Form Return 04/17/2012 Personal Returns due – Not Itemizing Return Form 04/17/2012 Personal Return – Extensions due 04/17/2012 US Gift and Generation-Skipping Transfer Tax Return 04/17/2012 US Gift and Generation-Skipping Transfer Tax Return Extension Due 04/17/2012 Partnership Returns due 04/17/2012 Issue K-1′s with Partnership Returns 04/17/2012 Electing Large Partnership Returns due 04/17/2012 Estate & Trusts Returns are due; Bankruptcy fillings use the same form 04/17/2012 Partnership, Estate & Trusts Returns – Extensions due 04/17/2012 Individuals, Farmers & Fishermen Pay 1st Quarter Estimated Tax Payment 04/17/2012 Corporations – 1st Quarter Estimate Tax payment Due 04/17/2012 Estates & Trusts 1st Estimated Tax Payment 04/17/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month 04/30/2012 Deposit FUTA tax if more than $500 was paid through March 31st 04/30/2012 1st Quarter Payroll Tax Returns Due 04/30/2012 1st Quarter Federal Excise Tax Return & Payment Voucher – Form 720

—————————————– From TaxMama® to You! —————————————–

Follow TaxMama®’s Tweets –

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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