September, 2010
Phishing Scam on Federal Tax Deposits
The IRS does NOT send out e-mails advising you that your EFTPS payment has
been rejected. If you get an e-mail, it is someone trying to trick you into
revealing your bank info. You might see:
“Your Federal Tax Payment ID: 96863768 has been rejected.
Return Reason Code R21 - The identification number used in the Company Identification
Field is not valid.
Please, check the information and refer to Code R21 to get details about
your company payment:”
bogus url given with "eftpsgovservice" in the address
If you receive a message claiming to be from the IRS or EFTPS, please do
not reply to the sender, access links on the site or submit any information
to them. Forward the message immediately to the IRS at phishing@irs.gov.
The IRS bought the program QuickBooks for some of its agents—what a boon, now they can ask for your entire QuickBooks file when they’re auditing.
I’ve now got a “shop” on Café Press at www.cafepress.com/TaxBuddha in case you’d like to order your own Tax Buddha logo items. I’m
also promoting a new slogan for Enrolled Agents:
“Got Taxes? Enrolled Agents Save You!” (I recommend the White
text on a Black shirt—that’s the seemingly blank design—it’s
white text on a white field!) Of course, the IRS may change the name, so
perhaps this will be a collector’s item soon!
The Eightfold Path to Pay Less Tax and Avoid an Audit
Eight basic things business owners want to know printed in booklet form in “Executive Summary” form. This is ten years of working with the IRS Tax Code distilled down so it doesn’t take YOU ten years.
Just another way we’re trying to simplify your life. And the purchase is tax deductible!
You can order from Amazon.com. Here’s the link to Amazon:
http://www.amazon.com/Eightfold-Path-Less-Avoid-Audit/dp/0615233422/ref=sr_1_22?ie=UTF8&s=books&qid=1226611038&sr=1-22
The booklet also contains a sections on how returns are selected for audit,
when to seek professional help, and how long to keep your tax records.
EBAEA—Speaker Development Group
I’m tired of going to see boring speakers for my continuing education
requirements. September 3rd, we had our second meeting of our Speaker Development
group, this time in Moraga. We’re trying to encourage and develop quality
speakers, specifically about tax topics. Although we’re open to visitors,
if you’re not trying to develop speaking skills and have an interest
in tax, it may not be for you. At the September meeting, I got feedback on
a segment of my presentation to be given in Albuquerque which boils down
to remembering “beginners mind” when trying to explain basis.
There was also a very kind suggestion of having a “road trip” out
to New Mexico. Our next meeting is tentatively scheduled for October 22nd.
Classes Balance Sheets and Basis, Intermediate S Corporation, Basic Payroll, Schedule C and Household Employees.
Here’s a link to the seminars page on my website: www.taxbuddha.com/seminars.html
Balance Sheets and Basis
Wednesday September 29th 2010 at the UNM University Conference Center
1634
University Blvd NW in Albuquerque NM.
Contact NMSEA at http://www.nmsea.net/convention.html
We’ll discuss basis, both inside and outside, for corporations and partnerships, including the principles that should allow you to recognize and solve basis issues, and why you might care to do so. We will cover several examples step-by-step so you have a chance to ask questions and understand how I determine basis where none has been provided, and what you need to collect to calculate (or at least approximate!) basis on your own.
I’ll also be doing a version of this class for CSTC in Burlingame CA on December 1st at the Doubletree Hotel SF Airport, 835 Airport Blvd. Contact Tina at inquiry@ccartertax.com or try www.cstcsfbay.org for more information or reservations.
Intermediate S Corporation Class
We’ll be looking at how to quickly solve
the most common problems encountered with preparing an 1120S, and what to do
now to reduce the likelihood of future problems. A very practical class where
you have the opportunity to ask questions.
Wednesday September 29th 2010 at the UNM University Conference Center
1634
University Blvd NW in Albuquerque NM.
Contact NMSEA at http://www.nmsea.net/convention.html
Monday October 11 2010 in Coalinga CA at Harris Ranch,
10 am – 3 pm with
a 1 hour lunch break on your own.
Fee to attend is $200. CPE credit of 4 hours
available for Enrolled Agents who attend, no credit currently available for
CTEC, but it’s a good class.
Send me an e-mail if you want to attend for reservation of your spot and directions.
Class size is limited. Flyer is on the website at www.TaxBuddha.com/1120_S_Flyer_2010.pdf
Monday November 8th in Red Bluff CA
10 am – 3 pm with a 1 hour lunch
break on your own.
Fee to attend is $200. CPE credit of 4 hours available for
Enrolled Agents who attend, no credit currently available for CTEC, but it’s
a good class.
Send me an e-mail if you want to attend for reservation of your spot and directions.
Class size is limited. Flyer is on the website at www.TaxBuddha.com/1120_S_Flyer_2010.pdf
NEW DATE: Monday, December 13th, 2010
from 10 am to 3 pm with
a 1 hour lunch break on your own.
Location subject to change but tentatively class will be held in the Lafayette
Chamber of Commerce Conference Room,
100 Lafayette Circle, Suite 103, Lafayette
CA 94549
Fee to attend is $200. CPE credit of 4 hours available for Enrolled Agents
who attend, no credit currently available for CTEC, but it’s a good class.
Send me an e-mail if you want to attend for reservation of your spot and directions.
Class size is limited. Flyer is on the website at www.TaxBuddha.com/1120_S_Flyer_2010.pdf
Basic Payroll
In conjunction with the IRS and EDD, Andy's going to be doing some Basic Payroll
seminars coming up in the near future.
Basic Payroll: Seminar runs 9 am – 3 pm with an hour for lunch
The next seminars will be:
Basic Payroll in San Francisco at the SBA office 455 Market Street, 6th floor
(I take BART to Embarcadero or Montgomery Street) 9 am – 3 pm,
September
22nd, November 17th, and December 15th.
Basic Payroll in Oakland at Elihu M. Harris State Building,1515 Clay Street, Room 1, Second Floor, 9 am – 3 pm, November 4th
Basic Payroll in San Rafael, November 16th.
Register by going to http://www.edd.ca.gov/Payroll_Tax_Seminars/ and find your favorite location.
These seminars have proven to be very popular, plus they’re free.
How to Prepare your Own Schedule C
Prepare your business taxes for ’09
and get ready for ’10, with a view towards 2011. Review what the IRS
wants to know from you and how to report it on the Schedule C for your business.
This is a class for business owners who need a basic understanding of their
1040 Schedule C tax forms. We’ll also talk about what to do with the
numbers once you have them. We can’t guarantee you won’t get audited,
but this class will make it less likely.
Andy will be at the US Small Business Administration offices in San Francisco at 455 Market Street, 6th Floor Tuesday October 12th, 6-8:30 pm. This class will be free. To register, check out the SBA website www.SBAtraining.eventbrite.com, or just show up.
This class will be presented again for free in San Jose on Wednesday, November 3rd, 10 am – 12:30 pm at the SBA Entrepreneur Center, downtown, 100 East Santa Clara Street, First Floor, San Jose.
Household Employees
An
update class for both employers and the tax practitioners
who help them. This is currently scheduled for January 24th, 2011 at 100 Lafayette
Circle, Lafayette CA in the Chamber of Commerce conference room. Cost to attend
this class is $75. Here’s the link to the flyer www.taxbuddha.com/Nannygate_Flyer_Jan_11.pdf
QuickBooks
If you’re in the market for QuickBooks training in a classroom setting,
I recommend a two day QuickBooks seminar. The website is http://www.manibusinessservices.com/
For Relaxation and Clear Thinking: On The Spot
We recommend meditation and that you check out On The Spot Massage at
http://www.onthespotmassage.com/corporate.html to help you relax. A relaxed
mind is a clear thinking mind. We have some discount cards for $5 off at
the Alameda Natural Grocery location on Park Street, open daily 11 am – 7
pm.
Our northern California physical office is shared commercial
space in Alameda.
Phone numbers are:
Phone (510) 522-2300
Fax (510) 522-2307
Our mailing address:
3527 Mt. Diablo Blvd #366, Lafayette CA 94549
“The hardest thing in the world to understand is the income tax.” — Albert
Einstein, physicist