On This Sunny Afternoon, The Tax Man’s Wanting to Tax the Dough

Posted on April 9, 2013 by Rob Nance

Is the double-edged sword striking down on that lunchtime chicken salad sandwich? I’ve often wondered when Silicon Valley’s culture of providing meals to employees at all hours–and I’m speaking of Google, Facebook and other companies in this free food mix–would be more of a hot Tax vs. Don’t Tax topic. Well, my friends, that day is officially here.

While this debate has certainly come up in the past, the lunch wagon has it on the front burner again, most likely because the IRS is on a mission to scrape up dimes in the gutter with a putty knife.

Looking at both sides of the controversy, on the pro-tax view of those company-provided lasagnas, smoothies and various cookies, crème puffs and gelatins, I venture to say that the average employee at these companies is enjoying at least a couple of thousand dollars a year in free eats and drinks. That’s clearly compensation and should be taxed.

Now, for the anti-tax view, it can all be taken in the same “de minimis” vein as the free donut and coffee of yesteryear. Why? Today’s work culture has changed. These companies that go to great lengths and costs to establish a high level of perks feel that they must do so in order to remain competitive with recruitment and retention in their respective industries. Few would argue that fact, I think. With that being the case, it doesn’t seem right to tax the free salad bar and barbecue hut, does it? If a Yahoo employee has to declare these edible fringe benefits as compensation, does that really seem fair?

What do you think about this issue? This matter isn’t in the same realm as a public accounting firm bringing in evening meals during busy season…this is a whole other kettle of fish. Drop it like a hot potato, IRS.

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Top Ten Things to Do Immediately After Busy Season

Posted on March 13, 2013 by Rob Nance

In recent conversations with CPAs and Enrolled Agents, one of them mentioned that he, thus far, is “working five percent less and is one-hundred percent happier” this busy season. Hopefully that will continue for him down the stretch of the final month.

Here’s a collection of what these hard-working CPAs and EAs mentioned they’re going to do after busy season concludes. If you’re in the same boat, consider making your own list!

10. Get back to cooking

9. Fall asleep in the backyard hammock and be in no hurry to get up

8. Disconnect from all devices for a while

7. Go watch some baseball games

6. Tackle the home improvement list and love it

5. Volunteer at church

4. Spend time in some museums and national parks

3. See all Oscar-nominated films

2. Finally start the banjo lessons I’ve wanted to do

…and the #1 Thing to Do Immediately After Busy Season…

1. Enjoy time with the family and friends I’ve ignored since January!

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Ultimate Tax Nerd: Week 4

Posted on March 13, 2012 by Rob Nance

Who is TaxMama? Well, she’s only one of the most recognized names in the tax and Enrolled Agent world!

If you haven’t entered TaxMama’s “Ultimate Tax Nerd Contest,” now’s the time! The first three weeks have flown by. Why enter? It’s fun, quick and easy.

Enter now! Click on the Tax Nerd logo below to start!

Tax Nerd Exorcism

Posted on March 9, 2012 by Rob Nance

Being the judge for Week 3 of TaxMama’s “Ultimate Tax Nerd Contest,” I examined a host of quality entries. Melissa Guy won for “The Taxorcist.” What led to my choice of the winner?

Melissa’s caption:
Taking your deductions to a whole new dimension. Giving new meaning to the possession tax credit.

My comments: “The creative elements displayed in Melissa’s entry were eerie, relevant and tied together with aplomb and skilled execution. Her effort could easily serve as one of the framed movie posters in my basement; however, it might be too scary at night! In honor of this win, I project that Melissa will be having split pea soup for lunch today.”

Enter! Click on the Tax Nerd logo below to start!

Are You a Tax Nerd?

Posted on March 6, 2012 by Rob Nance

If you haven’t entered TaxMama’s “Ultimate Tax Nerd Contest,” now’s the time! The first two weeks have sailed by–take a look here.

I’m the judge for Week 3. Enter now! Click on the Tax Nerd logo below to start!

Calling All Tax Nerds – Are You A Tax Nerd and Proud Of It?

Posted on February 16, 2012 by Rob Nance

Are You A Tax Nerd and Proud Of It? Prove it! TaxMama is on the search to crown the first annual Ultimate Tax Nerd. Here is your chance to show the rest of the world that Tax Nerds are passionate, funny, creative and proud of it. Join us at http://www.facebook.com/taxmama for a chance to enter the Ultimate Tax Nerd of 2012 Photo Contest.

TaxMama is searching for the Ultimate Tax Nerd. Everyone knows that tax season brings out uncontrollable tax passions. Mild mannered individuals turn into rabid tax fanatics. Sound familiar? The contest will run until midnight, Sunday April 1, 2012. Over $4,000 in prizes will be awarded. Each winning Tax Nerd will receive tax software from one of our sponsors and one lucky grand prize winner will win a bundle of tax prizes worth over $1,000. The Grand Prize winner be announced on Monday, April 9, 2012 at midnight. Enter at http://www.facebook.com/taxmama.

TaxMama.com’s Eva Rosenberg, EA admits. “I hated taxes with a passion when I was in college. I was determined to avoid ever dealing with them at all. But dealing with taxes is all about solving puzzles or unraveling mysteries. I got hooked – and built my life and career around taxes.”

TaxMama asks, “Do you bring your receipts and calculator to the beach or ski lodge? Do you count exemptions instead of sheep? Do you badger every Enrolled Agent and CPA you meet? Do you have endless tax questions that will not keep?”

Meet some colorful Tax Nerds: Roger B. Adams, EA a retired entertainment industry executive, who did a little volunteering at the US Embassy, helping people do their tax returns – and turned it into a full-blown career; Blake Warrington , a retired fireman and body-builder who got a little taste of taxes – and now loves to market any good tax product or service he can find. Bob Whitaker is a wedding videographer, who was audited so many times that he created a system to ensure he would win every time – and now makes a nice living selling it. A favorite Tax Nerd is marketing coach, Sarah Hurty who, once she discovered TaxMama.com, came up with new questions practically every hour – until she found the best way to restructure her family’s taxes and saved thousands of dollars!

TaxMama lays down the challenge. “If this sounds like you, or even if it doesn’t, send in a photo and catchy, clever, funny, or cute short caption proving why you are the Ultimate Tax Nerd of 2012.”

Contestants can use the TaxNerd goodies at TaxMama’s Zazzle site. Folks can customize any of those things by adding their own photo or message, right alongside the TaxNerd logo . They can shoot a photo of their clever adaption of a TaxNerd t-shirt, bumper-sticker, skateboard or anything else that proves they are the Ultimate Tax Nerd of 2012.

Anyone may win one of over $4,000 worth of prizes! Each week there will be (2) winners. (1) Winner will be determined by viewer popularity and (1) winner will be determined by Tax Mama herself and her team of tax nerdy judges. At the end of tax season, Tax Mama and her team will choose (1) Grand Prize Winner from the set of finalists ($1,000 worth of prizes), (5) 2nd Prize Winners (over $250 worth of prizes), and (10) 3rd Prize Winners ($177 each).

Finalists will have a chance to win a Kindle Fire, TaxMama Family Membership and their choice of tax software, among other weekly prizes. Sponsors listed in alphabetical order include; CompleteTax, H & R Block, iShade, TaxACT, TaxMama.com, and TurboTax – all passionate tax nerds. For more information on this event visit http://www.taxmama.com or our special Facebook page

http://www.taxmama.com – is published by Eva Rosenberg, an Enrolled Agent and tax author with decades of tax experience. TaxMama’s mission is to help you understand how the U.S. tax system can work to your advantage. TaxMama wants you to lose your fear of taxes and have fun with them. After all, there are so many tax benefits that are too often overlooked by the average taxpayer. It’s time for you to learn how to use the wealth of information available on the Web – and get answers for free. TaxMama invites you to become a member today, http://taxmama.com/membership/free-membership/.

Footnotes:

CompleteTax, H & R Block, iShade, TaxACT, TaxMama.com, and prize provider, TurboTax are all trademarked. The Tax Nerd Logo is copyrighted by Eva Rosenberg. Note: there is no requirement to use the TaxNerd logo or Zazzle products. However, the TaxNerd logo may only be used on TaxMama’s Zazzle http://www.zazzle.com/taxmama or CafePress products http://www.cafepress.com/taxnerd.

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Contact Information

EVA ROSENBERG
TaxMama.com
www.taxmama.com
(818) 993-1565

Breaking Down the Romney and Gingrich Tax Returns

Posted on January 24, 2012 by Rob Nance

Tax guru, Eva Rosenberg, a.k.a., “TaxMama,” has etched a compelling piece on the Mitt Romney and Newt Gingrich tax returns, titled “Mitt And Newt What Can We Learn For Our Clients?” You can read it in full on iShade here (after login):

http://www.ishade.com/group/78/thread/2774/view

Which firm does Romney’s return? PwC. There are more fun facts just like this one!

The links to the actual returns are included in Eva’s write-up. We welcome your thoughts
on the breakdown of these returns and also on Eva’s observations!

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Accounting Profession Insight & Observations by Rob Nance

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