-----------------------------------------------------------------
*** Ask TaxMama Volume 7, Issue #332 October 28, 2005 ***
-----------------------------------------------------------------

http://taxmama.com/taxcalendar.html

11.01.2005    3rd Quarter Payroll & Sales Taxes Due
12.31.2005    Last Day to Open KEOGH account for 2005 deposits  
01.15.2006    4th Estimated Payment for 2005 

-----------------------------------------------------------------

-----------------------------------------------------------------
JOB OF THE WEEK visit the NEW   http://taxmama.careerbank.com
-----------------------------------------------------------------
Intel is looking for financial analysts in Colorodo,
Arizona and Oregon. Bet you can buy a home there!
http://taxmama.careerbank.com/job.cfm/214543.htm

Take the new 2005 Salary Survey
http://www.careerbank.com/resource/ssurvey/salary_survey.cfm

-----------------------------------------------------------------

Dear Family,

What an interesting time.

Sunday, we change the clocks (see details below).
Monday, get ready for Halloween with costumes and more.
http://taxmama.com/resources/specials.html

Tuesday, Nov 8, vote in our California Special Election.

Each one brings a measure of stress into our lives,
whether good or bad.

These days, our television and radio stations and
mailboxes are replete with political persuasion.

I've heard people say that, since Arnold called
this special election against everyone's wishes,
just to get his initiatives put to a vote - they'll
be voting against everything, simply as a matter of
principal.

The messages are, in fact, confusing. Usually, you
can count on the Los Angeles Times to have a complete
list of the issues, with a summary explaining
each, and projections on how the public views
each of them. Not this year, just assorted articles
that seem to focus more on personalities and gossip
than the issues up for vote.

Some issues are touchy - Some Propositions:
Prop 73 -  How do you decide whether to force doctors
to notify parents if their young daughter needs an
abortion? If she's too afraid to tell them herself,
will she do something dangerous if she's also afraid
to go to a doctor? True, she's often too young to
make the decision herself. But...

Prop 74 - Public school teachers to have a longer
probation period before tenure.  And someone brought
up the question - Why DO teachers have tenure at all?
This is a far different world than when tenure was
created. Back then, other employees would also have
live-long jobs. Today, no one has any job security.
Why should teachers be guaranteed tenure at all?
After all, while most teachers shine and inspire
students, especially once the pressure is off,
other teachers just breathe a sigh of relief and
stop doing anything much. (Uh oh, you're going to
rise up in protest. But it IS a fair question.)

We're facing redistricting, prescription drug issues,
and giving the Governor more power over spending
limits. And the list goes on. And is found here:
http://www.voterguide.ss.ca.gov/

At a time when the Governor's popularity is at an
all time low - so low that he couldn't even meet
with President Bush last week because they didn't
know whose support would be damaged more if they
were seen together, Schwarzenneger declares he'll
run for a second term. Interesting, yes? Chuztpah?

At least life is never boring.

Regardless, we must participate. Read the issues
here in California. And vote. If your state is
also having an election in November, this is the
time to get familiar with your own issues, too.
You still have a week to do the research.

[Oh no! Someone just sent me a note -  Do a Google
search for the work failure and look at #1 ]

Go out this weekend and enjoy the extra hour of
daylight in the evening. Trust me. It won't last.

Best wishes,

Eva Rosenberg, EA
Your TaxMama is watching...out for you.

P.S. If you're in business, you MUST read
Small Business Taxes Made Easy
http://www.taxmama.com/AskTaxMama/book/

P.S.S. NEW! POSTAGE STAMPS - THE ORIGINAL 1913 TAX RETURN
http://www.cafepress.com/taxmama.28979465

Or create your own custom postage - join CafePress
http://www.cafepress.com/cp/info/storeref.aspx?refby=taxmama


**************************************************
To comment on any articles in this issue, please,
DON'T send me back the whole issue. Send a note to
mailto:taxmama@taxmama.com?subject=AskTaxMamaComment

**************************************************

ADDRESS CHANGES - Please, do NOT send them to me to do.
There is a link at the bottom of this issue. Please click
on it and you will be able to make updates and changes
yourself. And faster.

**************************************************

---==========**********O**********==========------

In 2003, Americans OVERPAID their taxes
by more than $500 MILLION!

                 Did you?

Play a simple, two minute game
and learn what tax professionals call
"the most overlooked tax deduction in America."
ItsDeductible will put $300 to $1200 back in your pocket
-- guaranteed -- or your money back.

    http://1deg.net/ht/id1/taxmama/

----==========**********O**********==========-----
--------------------------------------------------------
Media Tour and Classes
--------------------------------------------------------

Did you miss this the last webinar?

How to Run Your Business Instead of Letting it Run You.
With Jacqueline Freeman of http://josephfreeman.com

Listen here http://taxmama.com/workshops/

-----
If you're flying Southwest Airlines this month,
be sure to read their Spirit Magazine.

--------------------------------------------------------

IRS POSTED THE UNOFFICIAL ANSWERS
http://www.irs.gov/pub/irs-utl/2005_unofficial_answer.pdf

If you didn't pass, study at a relaxed pace - now:

EA Exam Review Class - Self-Study

Use this time to learn about tax areas you don't understand.
Get PRACTICE TIPS - worth 100x the price of the course.
http://irsexam.com/register.php

-------==========**********O**********==========-------
                 USE THESE QUICKIE RESOURCES!
----------------------------------------------------------------
        101 WAYS TO BE YOUR BEST  
http://www.1automationwiz.com/app/?Clk=1091429
----------------------------------------------------------------
Small Business Taxes Made Easy
http://asktaxmama.com/go/autographed
----------------------------------------------------------------
Tiger Direct's sale on hard drives
My husband's favorite place to shop online
http://www.tigerdirect.com/email/affiliate/promo.asp?id=40013864
----------------------------------------------------------------
This Week's Tax Quips
----------------------------------------------------------------

NEW - IMPROVED SOUND!
It's so WOW that one of the top podcasters on
the planet wanted to know how I got that
amazing sound quality. (I'll tell you next
week.)
 
If you haven't subscribed yet, you're not just
missing some juicy tips and tax news.

Sign up for the Internet's NUMBER ONE tax podcast
http://www.taxmama.com/taxquips/

Listen to this weeks pearls of wisdom are at:
http://www.asktaxmama.com/podcast/


MONDAY - Blood & Guts
http://www.asktaxmama.com/podcast/index.php?id=86

TUESDAY - ON VACATION
http://www.asktaxmama.com/podcast/

WEDNESDAY - SalesTaxOnline
http://www.asktaxmama.com/podcast/index.php?id=87

THURSDAY - S-Corping
http://www.asktaxmama.com/podcast/index.php?id=88

FRIDAY - Americas Cup
http://www.asktaxmama.com/podcast/index.php?id=89

----------------------------------------------------------------
Daylight Savings Time
----------------------------------------------------------------

[I want to thank all of you who answered my question.
This answer was entertaining - and informative.]

Dear TaxMama--
 
In your last newsletter, you asked when we reset our clocks.

What with our Congressperps messing around with things, it
is difficult to know.  However, the US Naval Observatory
(the official timekeepers for all of us), have the answers. 
 
For quite some time, we have traditionally returned to
standard time on the last Sunday in October. 
The Observatory page at
http://aa.usno.navy.mil/faq/docs/daylight_time.html ,
however, tells us that 2006 is the last time that will be true.
 
So, this year, we'll "fall back" at 2:00 AM on
Sunday, October 30, 2005.
 
In 2006, we'll spring forward at 2:00 AM on Sunday, April 2
and fall back at 2:00 AM on Sunday, October 29.
 
In 2007 (and thereafter, assuming the rules don't change
again), we'll spring forward at 2:00 AM on Sunday, March 11
and fall back at 2:00 AM on Sunday, November 4. 

For future reference, that's the second Sunday in March
and the first Sunday in November.
 
Whatever the rules are, we'll all be grumbling, because most
of us will be driving to work in the dark for a longer
period each year.  I don't think even the farmers (for
whom DST was supposedly initiated) think this is a good idea.

I know for sure that school kids who have to stand on
street corners waiting for the bus in the winter won't
think kindly of the idea.
 
 
Vic

Victor McDonald
 
<TaxMama comments>

Yes, and just think of the poor busdriver who has
to get up long before daylight, to pick up those
children on those street corners...and his wife (me!).

So, I guess Monday, we'll be getting up at what would
have been 3:00 a.m. Oh joy!

Anyway, remember, my friends - this weekend, we
change the clocks again!

----------------------------------------------------------------
Georgia Farming Not on My Mind
----------------------------------------------------------------

From: Macon, GA

Dear TaxMama,

This is a Georgia Sales & Use tax question about
tax exempt agricultural Machinery.

Can I get a list of specific types of machinery
and equipment for use on the farm in the
production of livestock? 

Machinery and equipment used to
harvest farm crops for feed for livestock? 

Machinery used directly in
tilling soil or for animal husbandry?

I would also like a list of Off-road equipment
and related attachments used exclusively in
site preparation, planting, cultivating or
harvesting of timber by persons primarily in
growing or harvesting of timber. If this is not
the right place to get this information and
you know where is will you please send it to me.

Thank you,

Rudy

<TaxMama Replies>


Dear Rudy,

Wherever did you get the idea that I
know anything about farming equipment?

But if you want to know what's tax exempt,
here's the Georgia Sales Tax Site:
http://www.etax.dor.ga.gov/salestax/st3forms/st3_indx.shtml

Search through it to your heart's content.

If you can't find what you need, do something
old-fashioned.  Pick up the phone and call the
agency. They'll be able to send you the list of
tax-free equipment.  Seeing the list might
just give you the information you need.

If not, go ask a farmer - or rancher.

Although, to produce livestock, I didn't
think you needed machines. Don't you just
need male and female animals?

Best wishes,

Eva Rosenberg, MBA, EA

http://www.TaxMama.com

Subscribe to the daily podcast - TaxMama's TaxQuips
http://www.asktaxmama.com/podcast/

----------------------------------------------------------------
Patent or Trademark
----------------------------------------------------------------

From: Largo, FL

Dear TaxMama,

I am starting a small business and I'm going to
create a logo and put it on all the things
associated with the business.

The question is, I want to protect my logo from
another business's use, so do I patent or
trademark the logo?


Thanks,
Brenden


<TaxMama Replies>


Hi Brenden

Logos are trademarked.
Or copyrighted, by the artist - so make SURE
you have clear title to your logo art.

Patents are for inventions.


Best wishes,

Eva Rosenberg, MBA, EA

----------------------------------------------------------------
Estate Taxes?
----------------------------------------------------------------

From: York Haven, PA

We, brother, sister, and I, are very soon to be
a beneficiary of a NY trust eatablished and
owned by an estate in NY.

My mother set it up and her three children are
were the beneficiaries.

Upon her death (August 2005) the proceeds of the
trust are to be disbursed to her three children.

My sister is a NY resident, but my brother and I
are PA residents.

I imagine we will be subject to a PA income tax on
the estimated $105,000.

Is it possible to reduce the tax on this "windfall"?

I am retired, age 65, on Social Security and a
$334 monthly pension and have no debts.

TIA

Allan


<TaxMama Replies>

Dear Allan,

Sorry to learn about your mother.

But that's ok about the money.

When you get the money from the estate or the trust,
it will come to you after taxes (unless there's an
IRA in there, but that's another story).

The only taxes you'll ever pay on the money from
the estate is the tax on the interest or dividends
you get from investing it.  Or rental income. Or...
the earnings from whatever business you might start.

And while you might be retired and 65, you certainly
aren't dead. Odds are, if your mother lived this long,
so will you. So you've got another 20 or 30 years to
fill.

So, take that money and do something to re-invent
yourself and increase your joy in life.

If all you have is Social Security and a tiny
pension, perhaps you can use the money to start
some  part-time enterprise that you'll enjoy and
that will also bring you a stream of income.

Oh yes - tax advice. No taxes. No advice needed.

Best wishes,

Eva Rosenberg, MBA, EA
http://www.TaxMama.com

Subscribe to the daily podcast - TaxMama's TaxQuips
http://www.asktaxmama.com/podcast/


----------------------------------------------------------------
Because We Care
----------------------------------------------------------------

HURRICANE KATRINA, RITA et al

To help or to get help:

First.gov - http://go.asktaxmama.com/KatrinaRecovery
FEMA  - http://www.fema.gov/news/newsrelease.fema?id=18473

==========

Don't let yourself or your friend feel helpless.
Share the Power - SCHOLARSHIPS FOR SELF-DEFENSE TRAINING AVAILABLE
SHARE THE POWER:SELF DEFENSE TRAINING is gaining POWER! 
visit Share The Power - http://www.sharethepower.com

==========

A.N.G.E.L.S. DAY

Helping Seniors keep their pets
http://angelsday.org/
Talk to Linda Baker for more information
(310) 680-0798 LBaker6343@aol.com

==========

The Jeremiah Society asks "Who Will Care for the Children?"

Today, many of these people outlive their parents. And therein
lies the problem. Once their loving caregivers are gone, who
will care for them? And will they be able to care for themselves?

The Jeremiah Society, is working to help enhance and enrich the
lives of developmentally disabled teens and adults in the Jewish
Community Please Call Rose Lacher, (714) 997-8193

http://www.jccoc.org/adults.html

-----------------------------------------------------------------
MONEY FUNNIES & INSPIRATION
-----------------------------------------------------------------

Things to Make you Laugh and Ponder

Life's a Puzzle
http://www.riversongs.com/Flas/today.swf

Thong Bathing Suits (no kids, please)
http://upchucky.net/~upchucky/flash-fun/thongs.html

Hug Certificate
http://www.itstime.com/hugs.htm

Time to be Glad
http://www.InspiringThots.net/movie/today.php

------

Contributed by Joyce Ragels, EA in Arizona

[Remember, we're always looking for SHORT, clean humor!]

-----------------------------------------------------------------
IRS and Tax NEWS
-----------------------------------------------------------------

Courtesy of IRS

October 27, 2005  - Announcement 2005-80
 
Announces a settlement initiative under which taxpayers
and the Service can resolve certain specified transactions.

Most of the transactions involve tax shelter-related
issues.

But there are other things here, too.

Some are related to ESOPs set up by small corporations.

There are employees who've doubled-dipped, deducting
expenses for which their employers repaid them.

Others are for those who've taken abusive charitable
contributions.

In essense, IRS has set up a procedure where the
Service and taxpayers can come to terms about
deliberate or accidental errors, without any
criminal action or major fuss.

For more details, read this:
http://www.irs.gov/pub/irs-drop/a-05-80.pdf



---------------------------------------------------
JOB SEEKER OF THE WEEK   http://taxmama.careerbank.com/
---------------------------------------------------
Marty is a CPA in Buchanan MI who is a Tax Specialist.
He is willing to work in Indiana or Michigan.

Marty has experience prepare federal and state
income/franchise tax returns for large corporations.
Research various state income, franchise, and license
tax issues.  Respond to state tax notices.
Prepare state income/franchise estimates.
Prepare state withdrawal, merger, and dissolution
documents to be filed with various states.

Work with clients, state, and local governments
to obtain tax abatements, credits, and incentives
for new and expanding businesses.

A great guy for your tax department. You can find him
and others like him at TaxMama's Careerbank

http://taxmama.careerbank.com/

---------------------------------------------------
CAREER CENTER   http://taxmama.careerbank.com/
------------------------------ ---------------------
This is the ideal time to hire and train staff.
TaxMama's Career Center provides you with the
best tools for finding employees in our industry.
http://taxmama.careerbank.com/

Explore the center today and take advantage of its
exclusive tools including job postings and resume
searches.  As a member of the leading online career
center network for banking, finance and accounting
professionals, you can post your job on our Career
Center once and it will automatically be seen on
90+ accounting, finance and banking organization
career centers.   Visit the TaxMama's CareerBank 
http://taxmama.careerbank.com/

---------------------------------------------------------------
E-Books  and Workshops - all Yours - No Charge
-----------------------------------------------------------------

What to do in a Quake
http://www.kcal9.com/quake/

Submitted by Dolores Krajniak

-------------------------------------

What: Women in Business teleclass series, course nine
The Art of Being the Boss: Manage, Motivate & Inspire!

When: Tuesday, November 15, Noon Central

Where: www.principal.com/women

Why: The Principal Financial Group� is a partner to
women business owners and is dedicated to offering
professional development opportunities in a convenient
format.

-------------------------------------
We'll post your announcements -
just tell us about your no-cost event.
-------------------------------------

http://taxmama.com/workshops/

-------------------------
Not-So-Fr*e Books
-------------------------

http://taxmama.com/resources/shopbook.html

eBook - TaxMama's Secrets:
Ten Businesses to Start Online Without Spending One Thin Dime
http://www.1automationwiz.com/app/aftrack.asp?afid77528

For more:
http://taxmama.com/resources/shopbook.html

-----------------------------------------------------------------

TaxMama On the WWW & Tooting Her Own Horn
http://taxmama.com/toots/index.html


TaxMama is teaching - in person and Online:
http://taxmama.com/toots/meettaxmama.html

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Critical Dates http://taxmama.com/taxcalendar.html
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Ask TaxMama is published by the good folks at http://taxmama.com
ISSN 15320790 � copyright, Eva Rosenberg, 1999 - 2005
TaxAnxiety Inc. P.O. Box 280549, Northridge, CA 91328
Written (e-mail) permission is required to copy or redistribute this
publication or to use it on your site. mailto:taxmama@taxmama.com
However, you are encouraged to forward an intact copy to all your
friends and invite them to subscribe!
-----------------------------------------------------------------
Legalese and Disclaimer http://taxmama.com/privacy/disclaim.html