Mom's Gone Virtual's Telecommuting Taxes

Income taxes can be a very difficult topic, especially if you telecommute or work from home! Mom's Gone Virtual helps take the confusion out of telecommuting taxes by giving you free tax tips.


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Accounting Web Article: Work/Life Balance

I received this article today that I couldn't help but read. Being a work at home mom, I understand the work/family balancing act. It's a tough one and I definitely DO NOT miss doing it when I worked outside the home.

After reading the article, I couldn't help but say to myself (and my 16 month old sitting next to me playing)those companies should allow their workers to telecommute! ;)

Check out the article here -->
Happy With Your Work/Life Balance?

How do you deal with the juggling act?


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E-file Available for Partnerships

The IRS announced Monday that partnerships can now file their tax returns electronically! Here's the release from the IRS with a link to more information for those wishing to e-file their partnership tax returns this year.


Modernized e-File Available for Partnership Returns

IR-2007-02, Jan. 8, 2007

WASHINGTON — Beginning today, partnership taxpayers can electronically file tax year 2006 Form 1065, U.S. Return of Partnership Income, and Form 1065-B, U.S. Return of Income for Electing Large Partnerships, using the Modernized e-File platform.

“Electronic filing is a key component to modernizing our tax system,” IRS Commissioner Mark W. Everson said. “E-File improves the speed and accuracy of tax return filing, and we encourage partnership taxpayers to take advantage of this enhanced system.”

Since tax year 1986, the IRS has offered electronic filing of Form 1065. The existing 1065 e-File platform uses a proprietary data transmission format. However, the Modernized e-File platform uses the Extensible Markup Language (XML) format, which is an industry-standard method of identifying, storing and transmitting data. Both e-File platforms offer improved speed and accuracy of tax return filing. But Modernized e-File offers additional benefits, including transactional processing instead of batch processing, allowance for binary file attachments, elimination of the duplicate filing of International returns and a federal/state partnership program.

The IRS anticipates more than 400,000 partnerships will e-File in 2007. Most of those partnerships are not mandated to e-File but are encouraged to do so for the e-Filing benefits.

For tax year 2006, partnerships have the option to e-File Form 1065 through the Modernized e-File system or the existing 1065 e-File system. However, e-File for Form 1065-B is available solely through Modernized e-File. Partnership taxpayers should talk with their software provider or transmitter to determine which e-File platform to use. Beginning in January 2008, Modernized e-File will be the only e-File platform available to e-File partnership returns. At that time, the IRS will also require e-File for all 1065-B returns.

Partnership taxpayers can access detailed information about the Form 1065 e-File process by clicking on the "Modernized e-File for Partnerships" link below.

For more information regarding e-filing for partnerships click here.


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Teaching Your Children the Value of a Dollar

Many work at home parents have dreams of their children one day knowing the freedom of owning their own business. I myself have them. I would love to teach my boys the benefits of controlling their own financial future.

One of the best things we can do for our children is teaching them to be financially aware and I've found an article for you that talks about just that. Teaching our children the value of a buck can only help them and I say the sooner you teach them the better.

Check out the article here:

The information found at is not intended to be, nor should it be taken as, legal advice of any kind. Please contact your personal tax advisor, accountant, or attorney for questions pertaining to your specific situation.