Ask TaxMama Issue #411 – Small Business Tax Act

Dear Family,

Well, my week of sleeping late and waking up to

daylight is about to end – just as your vacations
are starting. Now it’s your turn.

The world is filled with graduations and new
beginnings this week. For parents, a huge weight

is lifted as your children complete this phase of
life and you can stop worrying about getting them
through high school or college. Of course, the next
phase of worry begins. Somehow, for parents, it
just never ends.

Of course, for the graduates, it’s all a major

relief. Away from all the pressure and deadlines,
professors, instructors and grades. Just wait until
you see the new challenges facing you.

For me, after all these years, looking back to
those days, what I miss most are summers. Even

though I generally worked and/or went to summer
school, I usually had the afternoons to myself,
to spend at the local public pool, practicing
dives. Or, in college, at my apartment pool and
yard, swimming and playing volleyball.

As a teen or twenty, you think that pace of

life will last forever. Does it?

Today, there’s no pool in my yard, just a nice
hole-in-the-ground that will soon be a charming
sunken patio – totally surrounded by colorful,

cheerful, fragrant flowers and trees.

Well, this week’s TaxQuips < >
kept us active and entertained.

IRS News this week is all about the new Small
Business and Work Opportunity Tax Act of 2007.
First, we have a summary of it from NAEA
Then a bit more detail from David & Mary

Mellem, EAs

We had a little adventure sending out packages
last week via the USPS. I stood at the counter
for over an hour while the Postmistress went

to my cart (I had filled it and given it to
the guy at the back entrance), and got one
package at a time and printed out stamp labels.
Of course, we became great friends and her
daughter might want to take the EA Exam Class,
but, still, it’s expensive standing there.

So, I found a way to avoid this in the future.
Read today’s article about “Sending Out Packages”.

I don’t know if this week’s Money Funnies will

make you laugh or cry. But you will understand
why our country is in trouble!

Our EA Exam Review Class has been dark this
week, giving students time to catch up on all

the homework. Most of the books and materials
are in your hands. You’ll get the FasTax discs
next week. The USPS’s Priority Mail delivery
from Montana seems to be taking more than a week,
instead of two days.

Have a less taxing weekend.

Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama is watching…out for you.