TaxMamas TaxQuips

Dear Family,

This weekend is Mothers Day.

One of the nation’s most visible mother is struggling to
break the biggest glass ceiling of all. Hillary Clinton didn’t
quite make it during this last round of primaries. And now it
seems that Barack Obama is overtaking her on the delegate count.
http://abcnews.go.com/Politics/Vote2008/story?id=4818637&page=1

Ironically, Obama is also fighting that glass ceiling, too.
If either of these candidates get elected to the U.S. Presidency,
it would be a landmark.

Waaaaay back when all this started, I predicted that if Clinton
and Obama were to team up, they’d be sure to win the White House
together. These days, the news are calling that the “Dream Team.”
Of course, neither is quite ready to concede the top spot.
So, it’s a discouraging Mothers Day for Hillary.

But, closer to home, there’s your mother, your grandmother,
your wife – or you! You know if you go out to celebrate,
the restaurants will be crowded and noisy, service will be
lousy, and the food will not be as good as it usually is.

So, why not pre-order your favorite foods from your favorite
restaurant and have a picnic at Mom’s house – or yours?
It’s cozy – the noise is your own – and it’s filled with
folks you love! (Oh yes, remember to clean up.)

Speaking of cleaning up, the State of New York plans to
do just that. They are expecting over $50 million in new revenues – if they can beat Amazon.com’s lawsuit against New York State’s
Department of Taxation and Finance. NY wants to collect sales
tax on your Internet purchases. And if they beat Amazon.com,
it will be a landmark case, affecting you. Read today’s IRS
News, where you will also find news of the Stimulus rebates
coming your way.

Today’s Money Funnies is a quiz – just how much DO you know
about your own money?
http://taxquips.com/index.php?cat=MoneyFunnies

We add a touch of Inspiration for moms, courtesy of
Rhonda Barsamian, EA
http://taxquips.com/index.php?cat=Inspiration

What other goodies do we have for you today?

TaxQuips this week helps you find your FBI file,
a new job or business, explains the rules for ‘freelance’
truckers – and an opinion on the tax implications of
selling your home that was also rented out.
http://taxquips.com/index.php?cat=TaxQuips

This week’s Job Advice recommends that you paste,
don’t attach. Good advice. I hate attachments!
Others do too.
http://www.taxquips.com/index.php?cat=JobAdviceoftheWeek

As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!

Please use the Comments link online.
http://taxquips.com/index.php?id=812

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.

www.TaxMama.com
www.TaxQuips.com
www.IRSExam.com
www.TaxNerd.net
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TAX CALENDAR 2008
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06.16.2008 2nd 2008 Estimated Payment – all entities Due

06.16.2008 Personal Tax Returns Due for US Taxpayers overseas

06.16.2008 or File extensions for US Taxpayers overseas Form 4868

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SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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Keep your Resolutions:
Here’s a well-thought-out e-book to help you start the
year off properly. It contains a place for you to
list your promises to yourself – and lots of tools to
help you achieve your goals.

Download the book here (just use your e-mail address in this e-mail, so you can avoid subscribing to
my newsletters twice.)

Feel free to share this link with your friends, your clients and your mailing list.

http://www.simpleology.com/p/blogging/taxmama/ATM440

Explore Simpleology 101 - It includes set of step-by-step daily missions for you to follow to get more focused and become more successful this year.
You can check them off as you go.

Audio and Video Training
Is 2008 the year you learn to put use audio and video
on your websites or online? Here are some excellent
no-cost training opportunities. All you need is time.
Join David at AudioAcrobat.com

Join SuccessNet.org for free and learn the 10 Essential Success Keys You Need to Know for You
And Your Business to Grow
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GIFT IDEAS
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ThinkGeek has some wonderful, unusual stuff, including something very like a Dick Tracy watch – a touchscreen cell phone PDA watch. They also have the USB Memory watch that holds 2GB of data.

Open your own Zazzle account and create personalized
gifts to your family and friends.
You don’t need to use my designs – use your own photos and artwork.
http://www.zazzle.com/taxmama*
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SPECIAL DEALS
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Need a Corp, LLC, Registered Agent

Incorp Services Inc. in Nevada – DISCOUNT
20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – or
http://go.asktaxmama.com/incorp
(no code needed)

Summer Family Identity – 3 Choices:

Zazzle – Cafe Press – Queensboro

Since it’s summer, and you’re probably going to be traveling with your family, consider getting matching T-shirts and/or hats.

(DO NOT PUT ANYONE’S NAME ON THEM – you’re just asking strangers to kidnap your children!)

But do put everyone’s picture – so even if you don’t know the local language, you can point to a family member and ask if anyone has seen him or her. Or use a graphic or piece of art you all like. You’ll find three options right here in our SPECIAL DEALS section.

Use your art or others – and customize it

Zazzle your Imagination. Are you a TaxNerd?
Tell everyone – proudly!
http://www.zazzle.com/taxmama*

Create your own customized Zazzle Apparel, bags or more.

Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

Stuff for summer, travel and fun

Cafe Press is the home of TaxMama’s shops
http://www.cafepress.com/taxmama

But you can upload your own art and graphics and unify your family – even your pets.
http://www.cafepress.com/

Get extra discounts for yourself and friends after you order.

WOW DEAL! Embroidery

Wouldn’t you love to get your logo or family crest, or picture or whatever, EMBROIDERED on hats and T-Shirts?

Well, it costs a heck of a lot less than you think.
And there’s always a sale!
At the Queensboro Shirt Company

(They have a lot more than shirts – and all sizes)

They do a gorgeous job.

Ask TaxMama

Where taxes are fun and answers are free

www.TaxQuips.com

The number ONE free tax podcast online

Money Funnies

Money - how well do you really know it?

IRS News

The stimulus checks are on the way - and watch out for NYS sales tax authorities

Job Advice of the Week

Paste, don't Attach

The 100% Home-Based Business Tax Solution

The evolving e-book and Tax MiniMiser

TaxMama's Classes

Solving the Tax Puzzle, Part I - preliminary to the EA Exam Review

TaxMama's EA Classes

EA Exam Review

WorldWinner.com

Interestingly enough, this information came from an
Internet information newsletter, not a tax newsletter.

In brief:

NY State hit Amazon.com for sales taxes even though
Amazon does not have a physical location in the state.
http://www.webpronews.com/topnews/2008/05/06/new-york-goes-gangsta-with-tax-law

Amazon is suing, claiming the New York law is unconstitutional
based on a 1992 U.S. Supreme Court ruling that claims states
are prohibited from requiring out of state retailers to collect
sales tax unless the company has a physical presence in the state.

Watch this closely. This will be a landmark decision.
If NY wins, then two things will happen:

1) California first, then all other states, will adopt
similar laws.

2) All companies that have affiliate programs will have to
register their business in each state where they have affiliates.

(An affiliate program pays commissions to folks with Internet
sites for sales generated by their links – like Amazon.com.)

3) The businesses will have to register for a sales tax
identification number – AND that means they will also have
to file income tax returns in that state to report the income
earned from sales there. It’s going to be really, really messy.

Another interesting note regarding NY State.

The WebPro article quotes Tom Bergin, a spokesman for the state
Department of Taxation and Finance. “The legislation provides for
a limited amnesty for online sellers who register as sales tax
vendors and start collecting taxes by June 1, 2008.”

“If the seller registers and starts collecting sales tax by
June 1, the seller will not be liable for tax not collected
for sales tax quarters prior to June 1. Conversely, if you
don’t register and it is later determined that you should
have, you could be subject to tax dept audit for quarters
prior to June 1.”

This is quite a threat.

Yet, there is nothing on the New York State Department of
Taxation and Finance website to alert anyone to this need.
It’s not on the home page.
http://www.tax.state.ny.us/

It’s not on their News (recent additions) page.
http://www.tax.state.ny.us/nyshome/recent_additions/default.htm

It’s not on their Businesses page
http://www.tax.state.ny.us/sbc/

Nor can I find mention on their Sales and Use Tax Page
http://www.tax.state.ny.us/nyshome/stidx.htm

Heck, they don’t even mention this on their Abuse and Compliance page
http://www.tax.state.ny.us/enforcement/otehomepage.htm

And searching for amnesty brings up very old pages.
Nothing about sales tax.

So, if NYS wants compliance before June 1st, just how is
the business public expected to comply?

What should you do if you run an Internet business?
Use your best judgment.

Note: California and Kansas won their sales tax case against Scholastic Book Clubs, Inc. because the courts decided that teachers who took orders in the classrooms were agents of the company:

Scholastic Book Clubs, Inc., v. State Bd. of Equalization, 207 Cal. App. 3d 734, 255 Cal. Rptr. 77 (1989)

In re Tax Appeal of Scholastic Book Clubs, Inc., 260 Kan. 528, 536, 920 P.2d 947 (1996).

Are affiliates, whose sites simply link to Amazon, or your business also considered agents? Or is this just advertising?

Ask TaxMama

Where taxes are fun and answers are free

www.TaxQuips.com

The number ONE free tax podcast online

IRS News

Tax News and Links to Forms, Publications, Tax Code and more

WebProNews

New York Goes Gangsta With Tax Law by Mike Sachoff

New York State Tax Website

Department of Taxation and Finance

Kansas Supreme Court Opinions

APPEAL OF FAMILY OF EAGLES, LTD

Courtesy of IRS – IR-2008-70

WASHINGTON — As millions of Americans begin receiving their economic stimulus payments, the Internal Revenue Service released a list of the most-frequently-asked questions –– and answers –– that people now are asking.

“Many people have questions about the stimulus payments, and the IRS has the answers available on the IRS.gov Web site,” IRS Commissioner Doug Shulman said. “The stimulus payments are automatic for eligible taxpayers who filed a 2007 tax return, and taxpayers do not need to take any additional action to receive the payment.”

Stimulus payments started going out last week, and the initial round of payments will continue on a weekly basis through mid-July. In all, nearly 130 million payments will go out this year. Last week, 7.7 million payments were direct deposited, and the first mass production of paper checks begins Thursday.

Since last week millions of Americans have visited IRS.gov and called the IRS toll-free lines. The IRS reminded taxpayers the fastest way to get answers is to visit IRS.gov, which has payment schedules and other information.

Since the payments began, the IRS has been fielding a variety of questions centered on the payment schedule, factors affecting direct deposit of payments, eligibility requirements and questions about the payment amounts. The IRS today released an updated set of Frequently Asked Questions covering everything from when someone can expect the payment to whether it will be delivered electronically or on paper. A link to these Frequently Asked Questions can be found at the bottom of this page.

The most common question has been when people can expect their payments. Economic stimulus payments will be issued according to the last two-digits of the taxpayer’s Social Security number. For joint filers the payments will go out based on the last two digits of the Social Security number of the person listed first on the return. Payments will be made by either direct deposit or paper check, based generally on the option people chose when they filed their 2007 tax returns.

The payment schedule for people who filed early enough to have their tax returns processed by April 15 is linked below.

Ask TaxMama

Where taxes are fun and answers are free

www.TaxQuips.com

The number ONE free tax podcast online

IRS News

Tax News and Links to Forms, Publications, Tax Code and more

www.irs.gov

The REAL IRS Website

IR-2008-70

IRS Answers to Questions About Economic Stimulus Payments;

IRS FAQs

Economic Stimulus Payments: Most Frequently Asked Questions

IRS FAQs

Stimulus Payment Schedule for Tax Returns Processed by April 15

Cut and paste a version of your cover letter and resume in the body of the email you send to recruiters, even if they ask for an attached Word document. Recruiters receive dozens, sometimes hundreds of resumes for each open position. It takes time to double click all those documents to open them. Save them the hassle by including your documents in the email as well as attaching it. They can always open the attachment if they like what they see. If they can’t find what they need quickly, they may ignore your documents in favor of the one that’s easier to read.

Barbara Safani

You’ll find Barbara Safani at TheLadders –
where you can Search 1,424 New $100k+ Jobs This Week!

Ask TaxMama

Where taxes are fun and answers are free

www.TaxQuips.com

The number ONE free tax podcast online

Job Advice of the Week

Courtesy of TheLadders.com

TaxMama's Career Bank

Find the best employees in the financial industries

TheLadders.com

Jobs paying $100,000 and up - Are YOU earning over $100K?

On a recent “Are you Smarter than a 5th Grader?” show, they asked: In U.S. currency, how many bill with Hamilton on it would it take to equal two with Benjamin Franklin on them?

Don’t know?

Sadly, neither did I. I only know Washingtons and Jacksons.

Question 2: How many Thomas Jeffersons would it take to equal one Andrew Jackson?

Question 3: How many George Washingtons to add up to one Ulysses S. Grant?

Question 4: If you had a Washington, Lincoln, Jefferson, and Hamilton, how much money would you have?

Question 5: Who was on the $100,000 bill?
(It’s no longer being printed)

To find the answers – Click on the link below to the US Treasury Department’s FAQs on Currency.

And visit the Wikipedia page for more interesting U.S. Currency factoids.

Courtesy of Eva Rosenberg, EA

Read more Money Funnies here:
http://taxquips.com/index.php?cat=MoneyFunnies

Please remember to send us your humor. Clean jokes preferred

Ask TaxMama

Where taxes are fun and answers are free

www.TaxQuips.com

The number ONE free tax podcast online

Money Funnies

Tax and Lawyer Humor and Quotes and other fun stuff

Money Funnies at TaxMama.com

More Tax and Lawyer Humor and Quotes and other fun stuff

U.S. Treasury Department

Frequently asked Questions about Currency

Wikipedia

List of United States Presidents by currency appearances