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In his new book, "The Vanishing American Adult: Our Coming-of-Age Crisis — and How to Rebuild a Culture of Self-Reliance," Nebraska Sen. Ben Sasse says young people in the U.S. are failing to launch. He explained to Elaine Quijano on "Red & Blue" how we ended up here and what Americans can do to prepare for adulthood. (Click image to view CBSN video) Sen. Ben Sasse swears that his book is not just 320 pages of old man "get off my lawn" rants at neighbor kids. First of all, the 45-year-old Sasse is far from old. Plus, says the Nebraska... Read more →


May flowers, like these Texas poppies, are one of the reasons it's such a merry month. Other reasons to be happy is that there are some tax moves you can make now to cut your 2017 IRS bill. (Photo by Kay Bell) Welcome to the merry, merry month of May, which is particularly joyous for folks who've finished up their 2016 tax returns. That's almost 136 million of us, with around 17 million of those 1040 forms arriving at Internal Revenue Service processing centers in the final days of this year's main filing season. While the 2017 filing season got... Read more →


Ah, youth. The excitement. The energy. The illusion of immortality. The first-ever filing of a tax return. Boom. Taxes often are the first indication of young adulthood. And apparently it's a grown-up responsibility that many millennials are turning over to other grownups, specifically their parents. Real mom-and-pop tax help: More than a third (37 percent) of millennials relies on their parents at least in part for tax help, according to a new study released by TaxAct. The survey, conducted by ORC International earlier this year on behalf of the tax software company, also found that young men are more likely... Read more →


Whenever I want to escape the crazy that is real life, I turn to the movies. Sometimes it's my favorite tax-themed films. Amanda Abbington and Martin Freeman, pictured here on the set of "Sherlock" with Benedict Cumberbatch, who plays the show's title character behind them, have separated. (Photo courtesy PBS Masterpiece) Other times when I can't get away for a couple of hours, I surf entertainment news. Go ahead, judge me. Then admit you've done the same! In perusing the web recently, I stumbled across a list of celebrity couples who have split. In addition to the usual Brangelina and... Read more →


Donald Trump is batting .500 for cabinet members who screwed up nanny tax reporting. This morning, the Senate narrowly confirmed Rep. Mick Mulvaney (R-South Carolina) to head the White House Office of Management and Budget. The vote was 51-49. At least Vice President Mike Pence didn't have to up to Capitol Hill to break a tie this time. Click image to watch the C-SPAN video of Mick Mulvaney's confirmation hearing before the Senate Homeland Security and Governmental Affairs Committee. His testimony apparently convinced just enough Senators to approve him on Feb. 16 for the White House budget post. Did Mulvaney's... Read more →


You're married. You got married on Dec. 31. You're a parent. You take care of an aging parent. You're a single dad. You're divorced. You got divorced on Dec. 31. All of these personal situations can affect your tax filing status. So getting it right on your tax return is critical. Dad helps his children with their homework. If he's the only parent, he could have a couple of tax filing status choices depending on his personal situation. Why does filing status matter so much? It determines the amount of standard deduction you can claim. It is used to establish... Read more →


Oh, c'mon people! What is so hard about hiring a legal household worker and then paying the proper taxes for such help? Mother with a baby and toddler hauling, in her words, "a lot of crap." If she hires childcare help, she'll need to pay attention to nanny tax rules. (Photo by Mrs. Flinger via Flickr Creative Commons) However, some high-power folks with political aspirations apparently cannot get this right. Not even three weeks into the Trump Administration and we have a second nanny tax scofflaw. Puzder joins Mulvaney with household help issues: First there was the South Carolina Republican... Read more →


Hello February. Although you're the year's shortest month, your fewer days can be full of extremes, like snow this week in the Midwest and Northeast and weather warm enough here in Central Texas for us to turn off the furnace and open windows. Image courtesy Tammy King's February Pinterest Board February's changes can be dramatic. But there's no need to over-react to your taxes this month. There are lots of easy moves you can make over the next 28 days. Collect your tax statements: Filing data on a variety of forms is filtering in this month. If you work for... Read more →


A Jacksonville, Florida, mother and father finally saw their daughter after being separated for 18 years. Kamiyah Mobley was known as Alexis Manigo when she took this undated Instagram selfie with Gloria Williams, the woman she grew up thinking was her birth mother. Kamiyah Mobley was a newborn when Gloria Williams, 51, allegedly posed as a nurse and took her from her birth mother in Jacksonville, Florida. Now Kamiyah, who grew up as Alexis Manigo, is getting to know her birth parents, Shanara Mobley and Craig Aiken. The young woman, however, says the woman accused of taking her when she... Read more →


Rep. Mick Mulvaney is going to have to answer some nanny tax questions if he hopes to become President-elect Donald Trump's budget director. Rep. Mick Mulvaney speaks to some of his South Carolina constituents on last September's Constitution Day. (Photo by Erik B. Corcoran via Twitter) The South Carolina Republican was elected to Congress in 2010 as part of the midterm Tea Party wave. Since then, the man whom some have called a debt warrior has been a major player in the conservative Freedom Caucus and has focused on ways to cut federal spending. He probably should have focused on... Read more →


Millions of us will be seeing our parents during Thanksgiving. For many, it's the first they've seen of mom and dad in months. Thanksgiving traditionally is a multi-generational celebration. But adult children might need to pay special attention to their aging parents over the holiday to gauge whether mom and dad now need some extra help. (Photo courtesy NealeA via Flickr Creative Commons) If you're heading to your parents' place this holiday and they're getting up there in years, it's a good time to make sure they're doing OK when you're not around. All of us want our folks to... Read more →


Welcome to Part 6 of the ol' blog's series on 2017 inflation adjustments. You can find links to all 2017 inflation posts in the series' first item: Income Tax Brackets and Rates. Today we look at changes to estate and gift tax amounts, as well as limits on investment income for children, known as the kiddie tax. Note: The 2017 figures apply to 2017 returns that are due in 2018. For comparison purposes, you'll also find 2016 amounts to be used in filing 2016 returns due next April. There's a time for play and a time for generational tax planning.... Read more →


Welcome to Part 4 of the ol' blog's series on 2017 inflation adjustments. You can find links to all 2017 inflation posts in the first item: Income Tax Brackets and Rates. Today we look at changes to some popular credits and deductions. Note: The 2017 figures apply to 2017 returns that are due in 2018. For comparison purposes, you'll also find 2016 amounts to be used in filing 2016 returns due next April. You can jump for joy like these youngsters if you can claim some of these popular inflation-adjusted credits and deductions. The key to paying the least tax... Read more →


If you follow celebrity news, you've already heard about the impending dissolution of the marriage of one of Hollywood's highest profile couples. Angelina Jolie is seeking a divorce from her husband of two years, Brad Pitt. Brangelina's divorce likely will be much more difficult than separating their Madame Tussaud wax representations. (Photo by Cliff via Flickr) I'll leave it to the internet and tabloids, both print on television versions, to hash out the exact sordid "irreconcilable differences" Jolie cited in her Sept. 19 filing in Los Angeles Superior Court. The couple, who share six children, was together for 12 years,... Read more →


If you thumb through Internal Revenue Service instructions -- since we all want to make sure we get our taxes right, who doesn't? -- you're likely to run across photos of missing children. Man answering phone at a National Center for Missing and Exploited Children call center. Click image for info on how you can help. This is a public service provided since 1999 by the IRS through its partnership with the National Center for Missing and Exploited Children. The photos, selected by the Center, are placed on tax document pages that otherwise be blank. As the text accompanying the... Read more →


Were you a June bride or groom? Congratulations and best wishes! "We did it!" The happy couple and friends celebrate. (Photo by Lindsey Child via Flickr CC) You have some tax tasks to take care of once you're back from your honeymoon excursion and the thank-you notes have been sent. Marriage is just one of the big life events that has tax implications. Today's Weekly Tax Tip has details on 7 such milestones, starting with your birth and continuing through retirement. And since your wedding day is one of the happiest days of your life -- remember it when you... Read more →


Being a parent is tough. Being a single parent is even tougher. Beach-combing with dad. Photo by YoTuT via Flickr. So on this Father's Day 2016, here's a shout out to the millions of dads who are taking care of their kids on their own. There were almost 2 million single fathers across the country in 2015, according to the U.S. Census Bureau. That, according to the nation's official people counters, represents 16 percent of the single parent population. In conjunction with the annual day to honor dads, those 1.9 million single fathers also earn this week's By the Numbers... Read more →


More than 1 million men and women have died during U.S. military service. Memorial Day is when we take special time to remember them and their ultimate sacrifice. To ensure the ultimate hallowed duties of America's fallen heroes are never forgotten, The National Moment of Remembrance Act was enacted in December 2000. This law created the White House Commission on the National Moment of Remembrance. The Commission's charter is to "encourage the people of the United States to give something back to their country, which provides them so much freedom and opportunity" by encouraging and coordinating commemorations in the United... Read more →


Happy Mother's Day! There's no better Mother's Day gift for mom than a homemade "<3 U Mommy" message. (Photo by Donnie Ray Jones via Flickr) Whether you are a mom, have a mom, are planning to become a mom, or are married to a mom, chances are you're taking part in a special celebration this Sunday. Enjoy! Millions of magnificent moms: While mothers often feel like they're all alone when it comes to their kids, some data from the U.S. Census Bureau shows that all types of mothers have lots of company. Overall, there are 43.5 million women between the... Read more →


Hey, May. You're supposed to be all about the flowers from last month's April showers. You can stop the rain and more any time now. Bluebonnets and more in a Central Texas field along the Willow City Loop. Photo by Kay Bell; art direction by the hubby. Yep, that old climatological adage is not quite accurate. May also brings plenty of showers. And hail. And tornadoes. That trend seems to be on track this year. Just two days into the month, and severe weather has moved from Central and flooded East Texas, where Houston was declared a major disaster area,... Read more →