So, you have today off. And, don’t give me any garbage that you are going to visit your family. Not happening. This is a pandemic.
Continue reading It’s Christmas Day…
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It’s Christmas Day…
Tag Archives: taxes
2021 (or is that 2020) surprises?
We talked earlier about how the IRS was changing some tax forms. And, if you pay attention to the nuances, you can see where the IRS is planning to clamp down on enforcement. Today, we’ll look at the new 1040 form- the one most citizens of the USA must file.
Continue reading 2021 (or is that 2020) surprises?
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A small gift
So, it’s almost November. Which means we should be considering our 2020 tax positions.
Most of you know that it’s become nearly impossible to itemize deductions nowadays. Overall, the Tax Cut and Jobs Act (effective for 2018 forward) decimated the number of folks who itemize- from 31% of all returns down to 13.7%. But, you can see from the chart that it really has hurt those that are not the richest folks in America the most.
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2019 Taxes MUST be in by today- or not…
Yeah, I know. You and the media are all incensed that TheDonald deducted $ 70K for his hair sculpturing. I know that comes to about 14,000 cans of Self-Styling Adorn- which is a bit excessive. Except…
Continue reading 2019 Taxes MUST be in by today- or not…
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Really? You are still doing your taxes?
If you are still putzing around with your taxes, it’s probably because you don’t have the funds to pay your obligation- and you’re stretching your imagination to come up with deductions. Sorry-you don’t have a TV show, so that $ 70K for Self-Styling Adorn to keep your one strand of hair curled about your head is not going to be a viable deduction.
Continue reading Really? You are still doing your taxes?
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The CARES Act Still cares!
So, the CARES act. All those little changes. Today, we’ll talk about a few we haven’t really discussed.
Continue reading The CARES Act Still cares!
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Decoration Day
I grew up hearing my grandfather call today “Decoration Day”. OK. Not today. Because before we decided to screw with our sacred holidays, it was always on the 30th of May. (That day would be Saturday this year.) Not the “If it’s Monday, we need a holiday” version we employ nowadays.
Continue reading Decoration Day
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Pandemic Relief???
I am not sure many of us can afford to do this for all our employees, but if we can, it’s a great morale booster- and may actually help our bottom line (tax wise).
Continue reading Pandemic Relief???
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Deductions. I need MORE deductions!
We can start filing personal taxes in a few days- this coming Monday. (Please note- the IRS will STILL not have several forms ready for use until late next week. Thanks to the retroactive changes in the law Congress [and TheDonald] approved late last month.)
Continue reading Deductions. I need MORE deductions!
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Tax Relief. If you live in New Jersey.
Yes, it’s tax season.
Which means many of you will be cursing under your breath again at the TCJA (Tax Cut and Jobs Act, sic- it was a tax cut for the rich with NO jobs whatsoever). Why? Because one of the hallmarks of this act was the virtual elimination of itemizing on one’s taxes. Sure, the architects of this cornucopia of blessing for big business and the 1%-ers claim that it makes your tax filing easier. (So does the very old joke as demonstrated by the IRS “form” below.)
Continue reading Tax Relief. If you live in New Jersey.
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