Ask TaxMama Issue 660 Columbus Day Weekend

Dear Family,

We were looking forward to the presidential debates this week. They were a disappointment. The moderation was loose and uncontrolled. And Obama looked and sounded weary from the very beginning. Did we learn anything new from either Obama or Romney? I didn’t feel that I did. Did you?

There are a lot of local propositions on the ballot in California – and perhaps in your state. Please take the time to read them and understand them. Some of them look like a good idea when you see the title. But if you read the details, the implementation is costly and ineffective, often doing exactly the opposite of the title. So, read the materials that came with your ballot.

There some controversy in some states about a requirement that voters must bring identification when they come to vote. Why is there controversy? After all, if we want a fair election, shouldn’t the voting be restricted to those people who have registered? And doesn’t everyone who is a citizen need to be carrying a driver’s license or similar picture ID card anyway? How can this be discriminatory?
Oy! What a country!

Since we’re dealing with childish behavior, this week’s Money Funnies looks at life through the eyes of children.

In IRS News this week, we learn about the new rules for issuing ITINs – taxpayer ID numbers for aliens and others not entitled to Social Security numbers. Since there was so much fraud in the system, the IRS had to develop new procedures.  And for those of you who want to put your energy where your mouth is – the IRS Advisory Committee on Government and Tax Exempt Organizations is accepting new members. Please, apply and speak up!

This week’s It’s A WAHM Thing column asks, do you know who’s using your child’s SSN?

This week’s Equifax Blog  provides Tax Strategies for the Unemployed. Alas, there are still too many!

Have you entered Equifax’s Family Money Matters Video Contest? Do enter – especially you terrific TaxNerds! One grand prize winner will receive a $1,000 Discover gift card, and all finalists will receive a complimentary full-year subscription to Equifax Complete™ Family Plan, a credit monitoring and identity theft protection product for the entire family. (Considering all the identity theft going on, this can be a serious valuable prize.)

If you want to see all the TaxQuips from earlier in the week, drop by here. There are some interesting topics.

The job search is on. If you’re looking for a job, an intern, or a new employee, please visit the new TaxMama Career center, partnered with JobTarget.com. For 15% off on any postings or orders, use the code: taxcareers

We have an RTRP class coming up at CPE Link in October – after tax season ends. I am getting happy emails from people who have passed the exam!   If you haven’t scheduled your exam date yet, in this week’s AccountingWeb.com blog, I explain why you may want to reserve that date now!

TaxMama’s EA Exam Review Course is back again tomorrow. The weekend is devoted to the Part 2, intense, Final Review sessions. And yay! People are passing the EA Exam.  Even Part 2, You still have time to Join the fun! (With a Fall Special discount, no less!)

Remember to follow TaxMama®’s Tweets – https://twitter.com/TaxMama

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. https://www.widgetbox.com/widget/taxmamas-taxquips-daily-tax-podcasts

Let’s address a few tidbits of news – and go back to work!

Weekly Equifax blog is still going strong. https://blog.equifax.com/tax/ Filing Taxes: Paperwork For Your Tax ProfessionalAvoid Paying Penalties on Estimated Taxes Learning from Your Tax Filing Mistakes After Filing Taxes: Responding to Letters from IRS Tax Tips: How Long Should You Keep Records? Using Standard Mileage Rate for Business Deductions Making Estimated tax payments Free Money Coming Your Way Due to Tax Mistakes Using Your Home Renovation to Maximize Tax Benefits Money Management: Explaining Paystubs to Your Teen Harvesting Capital Gains Now—or Later Working Like an Employee While Being Paid Like a Freelancer Tax Issues to Resolve During Your Divorce      I Received an IRS Notice – Now What?  Tax Strategies for the Unemployed – New! MarketWatch https://www.marketwatch.com/Journalists/Eva_Rosenberg Ruling poses tax issues for same-sex couples Whistleblowing for Fun or Profit Who’s Using YOUR Social Security Number?

ITS A WAHM THING Home Based Business Accounting Software Options Writing off your Family’s Vacation TaxMama’s 10 Tips for Success Writing off summertime parties. Vehicle Deductions Driving You Crazy? Are You Classifying Your Workers Properly? https://taxmama.wpengine.com/?p=11430 The Ins and Outs of Shoeboxed.com A Moving Story – or Three Good Reasons to Tell IRS You Moved Avoiding Fly by Night Tax Pros 4 Easy Steps to Resolving Your Tax Problems Are you Wasting Tax Benefits? Has your Child been the Victim of Identity Theft?

BizFilings What is the Best Entity for Your Business? The Non-Profit as a Business Model Tax Issues Regarding Copyrights and Trademarks Business Licenses You Need and Trust Now That You Have an LLC, it’s Time to Make Tax Decisions

You can find daily TaxQuips into YouTube videos https://www.youtube.com/taxmama1 https://www.youtube.com/user/taxmama1/videos

 

Remember to follow TaxMama®’s Tweets – https://twitter.com/TaxMama

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.

https://www.widgetbox.com/widget/taxmamas-taxquips-daily-tax-podcasts

Remember TaxMama’s Tax Calendar has enough information to carry you through to the first quarter of 2013.

As always, we love your feedback, opinions and ideas.

You are what makes all this fun – and interesting!

https://taxmama.wpengine.com/asktaxmama/ask-taxmama-issue-660

TaxNerd gear makes a bold statement year-round.

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama® www.TaxMama.com

10/15/2012 Personal Returns due – Easy – Final Deadline
10/15/2012 Personal Returns due – Not Itemizing – Final Deadline
10/15/2012 Deadline for Schedule C filer to fund SEP-IRAs for previous year.
10/15/2012 Net Operating Loss – Eligible Small Business carry back loss
10/15/2012 US Gift and Generation-Skipping Transfer Tax Return – Final Deadline
10/15/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month
10/15/2012 Employers File Annual Return for Employee Benefits Plan 5500, if on extension
10/15/2012 Employers File Annual Return for Employee Benefits Plan 5500-EZ, , if on extension
10/31/2012 3rd Quarter Payroll Taxes Due
10/31/2012 Employer’s Deposit Federal Unemployment Tax (FUTA) – if total due is more than $500 through Sept 30th.
10/31/2012 3rd Quarter Federal Excise Tax Return & Payment Voucher – Form 720

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EA EXAM NEWS & SOLVING THE TAX PUZZLE

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