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November 2018

Since I'm still recovering from my medical procedure last week, I'm following doctor's orders and taking it as easy as possible. Translation: More milkshakes! But I'm nothing if not a slightly obsessive-compulsive creature of habit. So I did want to get a Saturday Shout Out piece up today. Solution: I'm combining both medical directions and blogging impulses and recommending related tax reading today. Specifically, I'm going to the source, the Internal Revenue Service, for its comprehensive list of tax-deductible medical items and procedures. That is, of course, IRS Publication 502. IRS' medical deductions codex: The IRS hasn't updated Pub. 502... Read more →


The 2018 tax season is not quite over for some folks. But if you're an extra-late filer and want to submit your 1040 electronically, you must do so by Nov. 17. After that date, you'll have to complete your 2017 tax year filing on paper returns. Must-do maintenance: The Internal Revenue Service didn't select the Nov. 17 e-file drop-dead due date randomly. The agency says it needs to shut down its IRS Modernized e-file system that processes electronically-filed individual returns after next weekend so that it has enough time to perform annual maintenance. The IRS also has to reprogram the... Read more →


I'm not nearly as cheery as my smiley face socks in the above photo, but at least I'm recovering from oral surgery at home. The downsides are some pain and (for me, but not the hubby!) not talking very much. There are some pluses, though: ice cream and milkshakes for every meal! Yesterday's procedure also means I'll have more medical expenses to deduct on our 2018 tax return. Yep, we're one of those few people who will be itemizing deductions under the Tax Cuts and Jobs Act (TCJA), primarily because of our medical situation the last couple of years. We... Read more →


This photo via Donald J. Trump's Twitter account is the closest we've gotten to seeing his tax returns. That could change, though, now that the House flipped to Democratic control in the midterm election. Even before it was official that Democrats had wrested House control from the GOP in yesterday's midterm elections, Donald J. Trump's taxes were once again a target. Votes were still being counted and, on the West Coast cast, when some on the House tax-writing committee announced that the when leadership is transferred to them in January 2019, they will officially request to see Donald J. Trump's... Read more →


Vote! Vote! Vote! Vote! Vote! Vote! Vote! Vote! Vote! Vote! Vote! The choices you make in today's mi... Read more →


Don't let tax turkeys gobble up your money. Make these tax moves, a couple of which are related to recent tax reform, this November and for sure by the end of 2018. South Park turkeys via Giphy It's November! The start of the holiday season. Time to get into the festive spirit with some year-end tax moves. "Whoa! Wait! What the what are you thinking?" you say. "I'm still adjusting to Standard Time and already have a huge to-do list to make sure my family has the perfect Thanksgiving. Then as soon as that's over, I've got to start with... Read more →


"The Persistence of Memory" by Salvador Dalí (Oil on canvas, 1931) © Salvador Dalí, Gala-Salvador Dalí Foundation/Artists Rights Society (ARS), New York. Photograph taken in 2004. (Image from About.com, fair use, via Wikipedia) It's that time of year again, literally. At 2 a.m. today (Sunday, Nov. 4, 2018), most of us said goodbye to Daylight Saving Time and hello to the return of Standard Time. OK, maybe most of us weren't up in the wee hours to actually say goodbye and hello to our clocks. But we're dealing now with the timepiece trickery. A lot of us (me!) will suffer... Read more →


This dog might not feel as guilty as he looks, but shame can be useful in some tax collection situations. (Photo by Ansel Edwards/Flickr) When I was a kid and did something I wasn't supposed to, all it took was one quick glance from my mom to make me feel so ashamed. I'm not sure even my mother's steely look would work nowadays on kids who've grown up on reality TV and who make their every move, good or bad, public on social media. But when it comes to taxes, shame seems to work. Many U.S. jurisdictions post the names... Read more →


Canadian taxpayers have been victims of a telephone tax scam in which identity thieves purport to be from the Canada Revenue Agency. Tax and law enforcement authorities hope recent arrests at Indian call centers will at least slow the scam. (Screenshot from the joint The National/CBC Marketplace report. Click image to watch full video.) Despite some recent diplomatic and trade strains in the United States' relationship with Canada, the two countries share a lot of things, including tax scams. The most pervasive tax scam in America is telephone calls made by crooks pretending to be Internal Revenue Service agents. The... Read more →


Updated Nov. 15, 2018 Welcome to Part 3 of the ol' blog's 2019 series on tax inflation adjustments. We started on Nov. 15 with a look at next year's income tax brackets and rates. Today we look at allowable annual retirement plan contributions amounts and, for some taxpayers, tax deduction options and limitations. Note: The 2019 figures apply to 2019 returns to be filed in 2020. For comparison purposes, you'll also find 2018 amounts to be used in filing 2018 returns due April 15, 2019. If this is how you want to spend all your post-work days, you need to... Read more →